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Rite Aid Corp (RAD.N)

RAD.N on New York Stock Exchange

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21 Sep 2018
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Latest Key Developments (Source: Significant Developments)

Albertsons Companies And Rite Aid Mutually Agree To Terminate Merger Agreement
Thursday, 9 Aug 2018 

Albertsons Companies Inc ::ALBERTSONS COMPANIES AND RITE AID MUTUALLY AGREE TO TERMINATE MERGER AGREEMENT.ALBERTSONS - DISAGREE WITH CERTAIN RITE AID STOCKHOLDERS, THIRD-PARTY ADVISORY FIRMS THAT DID NOT BELIEVE CO WAS OFFERING SUFFICIENT MERGER CONSIDERATION.ALBERTSONS COMPANIES- CO WAS UNWILLING TO CHANGE TERMS OF MERGER.ALBERTSONS COMPANIES - REAFFIRMED ITS FISCAL 2018 OUTLOOK, WHICH INCLUDES AN EXPECTATION FOR ADJUSTED EBITDA OF $2.7 BILLION.  Full Article

Rite Aid, Albertsons Mutually Agree To Terminate Merger Agreement
Thursday, 9 Aug 2018 

Aug 8 (Reuters) - Rite Aid Corp ::RITE AID AND ALBERTSONS COMPANIES MUTUALLY AGREE TO TERMINATE MERGER AGREEMENT.EVALUATING GOVERNANCE CHANGES IN CONSULTATION WITH STOCKHOLDERS.SPECIAL MEETING OF RITE AID'S STOCKHOLDERS, WHICH WAS TO BE HELD ON AUGUST 9, 2018, WILL NOT TAKE PLACE.RITE AID WILL CONTINUE TO ENGAGE WITH STOCKHOLDERS TO ENSURE ALIGNMENT BETWEEN COMPANY AND ITS INVESTORS.RITE AID -UNDER TERMS OF MERGER AGREEMENT, NEITHER COS WILL BE RESPONSIBLE FOR PAYMENTS TO OTHER PARTY AS RESULT OF TERMINATION OF MERGER AGREEMENT.HEARD VIEWS EXPRESSED BY STOCKHOLDERS AND CO COMMITTED TO MOVING FORWARD AND EXECUTING STRATEGIC PLAN AS STANDALONE COMPANY.  Full Article

Rite Aid Sees FY 2019 Adjusted Loss Per Share $0.00 To $0.04
Monday, 6 Aug 2018 

Aug 6 (Reuters) - Rite Aid Corp ::RITE AID UPDATES FISCAL 2019 OUTLOOK.SEES FY 2019 ADJUSTED LOSS PER SHARE $0.00 TO $0.04.NET LOSS IS NOW EXPECTED TO BE IN A RANGE BETWEEN $125 MILLION AND $170 MILLION FOR FISCAL 2019.FISCAL 2019 OUTLOOK DOES NOT REFLECT IMPACT OF PROPOSED MERGER WITH ALBERTSONS COMPANIES, INC..GENERIC DRUG PURCHASING EFFICIENCIES WILL NOT MEET COMPANY'S EXPECTATIONS FOR YEAR.ADJUSTED EBITDA IS NOW EXPECTED TO BE IN A RANGE BETWEEN $540 MILLION AND $590 MILLION FOR FISCAL 2019.RITE AID - NOW EXPECTS GENERIC DRUG PURCHASING EFFICIENCIES TO BE ABOUT $80 MILLION LESS THAN WHEN CO ESTABLISHED FISCAL 2019 OUTLOOK.COMPANY'S 2019 OUTLOOK FOR SALES AND SAME STORE SALES REMAINS UNCHANGED.EXPECTATION FOR 2019 CAPITAL EXPENDITURES ALSO REMAINS UNCHANGED..FY2019 EARNINGS PER SHARE VIEW $0.03, REVENUE VIEW $21.74 BILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Walgreens Boots Q3 GAAP Earnings Per Share $1.35
Thursday, 28 Jun 2018 

June 28 (Reuters) - Walgreens Boots Alliance Inc ::WALGREENS BOOTS ALLIANCE REPORTS FISCAL 2018 THIRD QUARTER RESULTS.Q3 ADJUSTED EARNINGS PER SHARE $1.53.Q3 GAAP EARNINGS PER SHARE $1.35.Q3 EARNINGS PER SHARE VIEW $1.48 -- THOMSON REUTERS I/B/E/S.QTRLY SALES INCREASED 14.0 PERCENT TO $34.3 BILLION.SEES 2018 ADJUSTED DILUTED NET EARNINGS PER SHARE OF $5.90 TO $6.05.RETAIL PHARMACY USA HAD Q3 SALES OF $25.9 BILLION, AN INCREASE OF 15.0 PERCENT OVER YEAR-AGO QUARTER.RETAIL PHARMACY INTERNATIONAL HAD Q3 SALES OF $3.0 BILLION, AN INCREASE OF 6.6 PERCENT FROM YEAR-AGO QUARTER.RETAIL PHARMACY USA SALES IN COMPARABLE STORES IN QUARTER DECREASED 1.2 PERCENT COMPARED WITH SAME QUARTER A YEAR AGO.DOES NOT EXPECT RITE AID TO SIGNIFICANTLY IMPACT FISCAL 2018 ADJUSTED DILUTED NET EARNINGS PER SHARE.FY2018 EARNINGS PER SHARE VIEW $5.95 -- THOMSON REUTERS I/B/E/S.WALGREENS BOOTS ALLIANCE - ON CONSTANT CURRENCY BASIS,COMPARABLE STORE SALES DECREASED 1.4 PERCENT VERSUS YEAR-AGO QUARTER FOR RETAIL PHARMACY INTERNATIONAL.Q3 REVENUE VIEW $34.05 BILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Rite Aid Reports Q1 EPS $0.20
Wednesday, 27 Jun 2018 

June 27 (Reuters) - Rite Aid Corp ::RITE AID REPORTS FISCAL 2019 FIRST QUARTER RESULTS.Q1 ADJUSTED LOSS PER SHARE $0.01 FROM CONTINUING OPERATIONS.Q1 LOSS PER SHARE $0.04 FROM CONTINUING OPERATIONS.Q1 EARNINGS PER SHARE $0.20.SEES FY 2019 SALES $21.7 BILLION TO $22.1 BILLION.Q1 REVENUE $5.4 BILLION VERSUS I/B/E/S VIEW $5.32 BILLION.Q1 EARNINGS PER SHARE VIEW $-0.01 -- THOMSON REUTERS I/B/E/S.RITE AID CONFIRMS FISCAL 2019 OUTLOOK.FY2019 EARNINGS PER SHARE VIEW $0.03, REVENUE VIEW $21.65 BILLION -- THOMSON REUTERS I/B/E/S.MERGER WITH ALBERTSONS IS EXPECTED TO CLOSE IN H2 OF CALENDAR YEAR 2018.RITE AID - NET INCOME FOR Q1 INCLUDED AN AFTER-TAX GAIN OF ABOUT $268.6 MILLION RELATING TO SALE OF 281 STORES TO WALGREENS BOOTS ALLIANCE.  Full Article

Highfields Capital Intends To Vote Against Rite Aid's Merger With Albertsons Companies
Wednesday, 27 Jun 2018 

June 27 (Reuters) - Highfields Capital Management ::HIGHFIELDS CAPITAL INTENDS TO VOTE AGAINST RITE AID CORPORATION'S PROPOSED MERGER WITH ALBERTSONS COMPANIES, INC..HIGHFIELDS CAPITAL MANAGEMENT SAYS CURRENT TERMS OF PROPOSED DEAL BETWEEN RITE AID AND ALBERTSONS "DO NOT OFFER COMPELLING VALUE".HIGHFIELDS CAPITAL MANAGEMENT SAYS IT HOLDS ABOUT 4.4 PERCENT OF RITE AID CORP SHARES.  Full Article

Rite Aid Announces Results Of Offer To Purchase Certain Of Its Outstanding Series Of Notes
Tuesday, 22 May 2018 

May 22 (Reuters) - Rite Aid Corp ::RITE AID ANNOUNCES RESULTS OF OFFER TO PURCHASE CERTAIN OF ITS OUTSTANDING SERIES OF NOTES.RITE AID - OFFER TO BUY UP TO $700 MILLION OF CERTAIN OF OUTSTANDING INDEBTEDNESS.RITE AID CORP - AS OF MAY 21, $1.4 MILLION 2021 NOTES, $4.8 MILLION 2023 NOTES HAD BEEN VALIDLY TENDERED AND ACCEPTED FOR PURCHASE BY CO.RITE AID CORP - ASSET SALE OFFER EXPIRED AT 5:00 P.M., EASTERN TIME, ON MAY 21.  Full Article

Rite Aid Q4 Loss Per Share $0.46 From Continuing Operations
Thursday, 12 Apr 2018 

April 12 (Reuters) - Rite Aid Corp ::RITE AID REPORTS FISCAL 2018 FOURTH QUARTER AND FULL YEAR RESULTS.Q4 ADJUSTED LOSS PER SHARE $0.01 FROM CONTINUING OPERATIONS.Q4 LOSS PER SHARE $0.46 FROM CONTINUING OPERATIONS.Q4 EARNINGS PER SHARE $0.73.Q4 EARNINGS PER SHARE VIEW $-0.01 -- THOMSON REUTERS I/B/E/S.SEES FY 2019 SALES $21.7 BILLION TO $22.1 BILLION.Q4 REVENUE $5.4 BILLION VERSUS I/B/E/S VIEW $5.57 BILLION.Q4 NET LOSS INCLUDES $325 MILLION OF INCOME TAX EXPENSE RELATING TO REVALUATION OF COMPANY'S DEFERRED TAX ASSETS.Q4 NET LOSS INCLUDES GOODWILL IMPAIRMENT CHARGE OF $191 MILLION, NET OF TAX.SEES FY 2019 ADJUSTED EARNINGS PER SHARE $0.02 TO $0.06.FY2019 EARNINGS PER SHARE VIEW $0.03, REVENUE VIEW $21.73 BILLION -- THOMSON REUTERS I/B/E/S.SAME STORE SALES FROM RETAIL PHARMACY CONTINUING OPERATIONS FOR QUARTER DECREASED 1.7 PERCENT.IN FISCAL 2019, SAME STORE SALES EXPECTED TO RANGE FROM INCREASE OF 0.0 PERCENT TO INCREASE OF 1.0 PERCENT.CAPITAL EXPENDITURES ARE EXPECTED TO BE APPROXIMATELY $250 MILLION IN 2019.DEAL WITH ALBERTSONS EXPECTED TO CLOSE EARLY IN SECOND HALF OF CALENDAR YEAR 2018.OUTLOOK PROVIDED FOR FISCAL 2019 DOES NOT REFLECT IMPACT OF PENDING DEAL WITH ALBERTSONS.AS OF MARCH 27, 2018, RITE AID HAS COMPLETED SALE OF ALL 1,932 STORES AND RELATED ASSETS TO WBA.DURING Q4, COMPANY SOLD 1,554 STORES TO WBA AND CLOSED 19 STORES, RESULTING IN A TOTAL STORE COUNT OF 2,831 AT END OF Q4.  Full Article

Rite Aid Completes Transfer Of Stores To Walgreens Boots Alliance And Terminates Tax Benefits Preservation Plan
Wednesday, 28 Mar 2018 

March 28 (Reuters) - Rite Aid Corp ::RITE AID COMPLETES TRANSFER OF STORES TO WALGREENS BOOTS ALLIANCE AND TERMINATES TAX BENEFITS PRESERVATION PLAN.RITE AID CORP - BOARD OF DIRECTORS HAS TERMINATED TAX BENEFITS PRESERVATION PLAN THAT IT ADOPTED ON JANUARY 3.RITE AID CORP - AS A RESULT OF THE TAX BENEFITS PRESERVATION PLAN, CO PROTECTED ABOUT $2.2 BILLION OF CO'S NET OPERATING LOSSES.  Full Article

Rite Aid CFO- WE CONTINUE TO EXPECT REIMBURSEMENT RATE HEADWINDS
Wednesday, 3 Jan 2018 

Jan 3 (Reuters) - Rite Aid ::COO- RAD WILL HAVE 2,569 STORES LOCATED PRIMARILY IN 8 KEY STATES, TO BE SERVED BY 6 DISTRIBUTION. CENTERS POST TRANSFER OF STORES TO WBA.COO- WE HAVE BETTER PREDICTABILITY ON REIMBURSEMENT RATE AND ACCESS FOR THE COMING YEAR.COO- OUR TOTAL MED D ENROLLMENT FOR THE 2018 PLAN YEAR HAS SURPASSED 500,000 LIVES..CFO- IN NOV, WE COMPLETED THE SALE OF 97 STORES TO WBA UNDER THE AMENDED AND RESTATED ASSET PURCHASE AGREEMENT.CFO- WE WILL CONTINUE TO RECEIVE PROCEEDS FROM THE ASSET SALE OVER THE NEXT SEVERAL MONTHS AS WBA TAKES POSSESSION OF THE STORES.CFO- EXPECT STORES TRANSACTION TO COMPLETE DURING THE Q1, FISCAL 2019.; PROCEEDS TO BE USED TO PAY OFF ABOUT $200 MILLION OF NET LIABILITIES.CFO- WE CONTINUE TO EXPECT REIMBURSEMENT RATE HEADWINDS.CFO- WE DO NOT CURRENTLY PLAN TO PROVIDE GUIDANCE FOR THE REMAINDER OF FISCAL 2018.CEO- BIGGEST FACTOR IMPACTING SCRIPT COUNT RIGHT NOW IS REALLY NETWORK LOSS.  Full Article

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M&A lending to U.S. blue-chip firms on summer hiatus

NEW YORK (LPC) - Bank lending to high-quality US companies to fund acquisitions has slowed due to concern over government policies amid the summer doldrums, but is expected to pick up after the Labor Day holiday, bankers said.