March 16, 2020 / 1:26 PM / 16 days ago

BRIEF-Rite Aid Corp Updated Its Fiscal Year 2020 Earnings Guidance For Adjusted EBITDA, Revenues And Capital Expenditures

March 16 (Reuters) - Rite Aid Corp:

* UPDATED ITS FISCAL YEAR 2020 EARNINGS GUIDANCE FOR ADJUSTED EBITDA, REVENUES AND CAPITAL EXPENDITURES

* FISCAL 2021 REVENUE IS EXPECTED TO BE BETWEEN $22.5 BILLION AND $22.9 BILLION

* FISCAL 2021 NET LOSS IS EXPECTED TO BE BETWEEN $91.0 MILLION AND $119.0 MILLION

* FISCAL 2021 ADJUSTED NET (LOSS) INCOME PER SHARE IS EXPECTED TO BE BETWEEN A LOSS OF $0.22 PER SHARE AND INCOME OF $0.19 PER SHARE

* FISCAL 2021 CAPITAL EXPENDITURES ARE EXPECTED TO BE ABOUT $350.0 MILLION

* EXPECTS TO INCUR RESTRUCTURING CHARGES OF ABOUT $60.0 MILLION IN FISCAL 2021, WHICH WILL NOT BE INCLUDED IN ADJUSTED EBITDA

* EXPECTS REVENUES TO BE BETWEEN $21.9 BILLION AND $21.925 BILLION IN FISCAL 2020

* FISCAL 2020 SAME-STORE SALES EXPECTED TO RANGE FROM AN INCREASE OF 1.0 PERCENT TO AN INCREASE OF 1.1 PERCENT OVER FISCAL 2019

* NARROWS ADJUSTED EBITDA OUTLOOK FOR FISCAL 2020

* FISCAL 2020 ADJUSTED EBITDA IS EXPECTED TO BE BETWEEN $530.0 MILLION AND $535.0 MILLION

* EXPECTS PHARMACY BENEFITS AND SERVICES REVENUE WITH HIGH-SINGLE TO LOW-DOUBLE DIGIT GROWTH FOR 2023

* FY2021 EARNINGS PER SHARE VIEW $0.28, REVENUE VIEW $21.89 BILLION — REFINITIV IBES DATA

* EXPECTS SAME-STORE SCRIPTS WITH MID-SINGLE DIGIT GROWTH FOR 2023

* FISCAL 2020 CAPITAL EXPENDITURES ARE EXPECTED TO BE APPROXIMATELY $215.0 MILLION

* LATER THIS YEAR, WILL INTRODUCE ITS STORE OF THE FUTURE

* EXPECTS TO INCUR RESTRUCTURING CHARGES OF APPROXIMATELY $60.0 MILLION IN FISCAL 2021, WHICH WILL NOT BE INCLUDED IN ADJUSTED EBITDA

* FISCAL 2021 RESTRUCTURING CHARGES INCLUDE COSTS TO RELAUNCH THE BRAND AND TO TRANSITION OUT OF CERTAIN MERCHANDISE LINES Source: (bit.ly/2Qm7vCx) Further company coverage:

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