Rite Aid Revises 2011 Outlook, Expects $0.46 to $0.67 Loss per Share

Rite Aid

revised its fiscal 2011 outlook for sales, Adjusted EBITDA and net loss. Sales are now expected to be between $25.0 billion and $25.4 billion with same store sales expected to range from a decrease of 1.5 percent to flat. Adjusted EBITDA is expected to be between $875 million and $950 million. As a result of narrowing Adjusted EBITDA guidance, a $44.0 million debt modification charge for the company's recent refinancing and lower interest expense related to the company's refinancing and debt repurchase activities, net loss is now expected to be between $400 million and $590 million or a loss per diluted share of $0.46 to $0.67. The company confirmed previous guidance for capital expenditures at approximately $250 million.