Rite Aid forecasts full-year loss, lower adjusted EBITDA

Rite Aid shares slumped after the drugstore chain estimated that for fiscal 2021 it would post a net loss and lower adjusted Ebitda. At last check Rite Aid shares were off 18% at $19.12. They closed the regular trading session on Wednesday down 2.4% at $23.34. On Jan. 28 they had set a 52-week high of $32.48. For the fiscal year ended Feb. 27, Rite Aid now expects adjusted earnings before interest, taxes, depreciation and amortization to range $425 million to $435 million.