Rite Aid has successfully transferred 1,114 stores to Walgreens Boots Alliance, and has received cash proceeds of $2.424 billion, which the company continues to use to reduce debt.
On a per-share basis, the San Francisco-based company reported net income of $4.33. Earnings, adjusted for one-time gains and costs, were $3.41 per share.
Rite Aid is using its latest influx of cash to repay all of its $970 million of outstanding secured loans while maintaining a strong liquidity position.
Cough-Cold and Flu
The CDC estimates the flu will infect one in five Americans this year.
Rite Aid today unveiled the "new Rite Aid," a small but nimble, bicoastal regional chain that executives told the 36th Annual J.P. Morgan Healthcare Conference on Wednesday will have the same buying power over the next 10 years of its one-time suitor Walgreens Boots Alliance.
As good as Walgreens performed behind the back bench this past quarter, the company’s continued focus on enhancing its beauty offerings is expected to lead improvements across the front-end as Walgreens plans to amalgamate the many store format pilots it has been testing into one of many yet-to-be-identified stores.