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June 16, 1998

Rite Aid Corp.'s fiscal first-quarter earnings rose 33%, as expected, to $90.8 million, or 34 cents a diluted share, from a year ago as revenue rose 14% to $3.03 billion. The drugstore retailer also said it will take a charge in the second quarter of $173.8 million for closing some stores, resulting in an unspecified loss.

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