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Rite Aid loss widens; shares fall

September 28, 2007|From Times Wire Services

Rite Aid Corp. reported a bigger second-quarter loss than analysts had anticipated and forecast a wider loss for the rest of the year.

The net loss grew to $69.6 million, or 10 cents a share, from $330,000, or 2 cents, a year earlier. Sales increased 54% to $6.6 billion. The company, based in Camp Hill, Pa., also lowered its sales forecast for the year.

Shares of Rite Aid fell 21 cents, or 4.2%, to $4.84.

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