Rite Aid has completed an effort to refinance half a billion dollars in debt, the retail pharmacy chain said Friday, fresh off its announcement the day before of its third consecutive profitable quarter.
Rite Aid posted its third consecutive profitable quarter Thursday morning as it launched the largest extension to date to its loyalty card program and continued growing the latest iteration of its new store format.
Rite Aid will offer free informational resources in its stores and online on summer skin care, as well as sponsoring a cross-country tour offering full-body skin cancer screenings, the drug store chain said Wednesday.
Rite Aid moved to refinance its debt Friday, announcing that it would buy half a billion dollars in notes using proceeds from a new loan, while also projecting that it would turn a profit in the first quarter of fiscal year 2014, results of which it will announce next week.
Same-store sales at Rite Aid decreased 2% in March, including a 3.8% increase in same-store sales on the front end and a 4.5% decrease in pharmacy sales due in part to new introductions of generic drugs, the retail pharmacy chain said.
Rite Aid's same-store sales for February 2013 decreased by 3.6% over the previous year, including a 1.3% decrease in front-end same-store sales and a 4.7% decrease in pharmacy same-store sales, the retail pharmacy chain said.