Rite Aid Trading Over 3.5% Higher after Quarterly Results

Rite Aid Corporation RAD today reported financial results for the first quarter ended May 28, 2011. The company reported revenues of $6.4 billion, a net loss of $63.1 million or $0.07 per diluted share and Adjusted EBITDA of $262.9 million or 4.1 percent of revenues. Results benefited from continued growth in same store sales and a decrease in selling, general and administrative expenses partially offset by a decline in gross margin. Read more here.