Rite Aid Cuts View as Pharmacy Sales Slow
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Drugstore chain Rite Aid Corp. RAD.N  on Tuesday warned that full-year profit and revenue would fall  short of Wall Street expectations because of slowing pharmacy  sales as companies try to curb health-care costs.
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Wal-Mart Stores Inc.  shares  slumped to a nine-month low on Thursday after Merrill Lynch  lowered its rating on the stock, citing concerns over slowing  sales and a tough economic outlook.
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Slow sales in Asia are expected to cut into sales and profits.
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Rite Aid Corp. , which last week  said it would buy the Eckerd and Brooks drugstore chains for  about $2.6 billion, on Tuesday said it is on track to meet this  year's profit and sales forecasts.
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U.S. chain store retail sales fell in the latest week as unseasonable weather caused sales to slow a retail report said on Tuesday.
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Rite Aid Corp. , the third-largest U.S. drugstore chain, on Tuesday warned that if current sales trends continue its fiscal 2005 results would fall below expectations it gave in September.
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U.S. business productivity grew more slowly in the third quarter than first thought, a government report showed on Tuesday, while chain store sales fell in the crucial shopping week after Thanksgiving.
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Retail sales growth in the week after Thanksgiving fell to 3.1 percent, the slowest rate in four years, as consumers delayed holiday purchases to wait for discounts.
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The drug store chain Rite Aid said Thursday that its second-quarter loss widened sharply, and it warned that it expected to lose more than it had forecast for the year.
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Drugstores reported unusually weak December sales on Thursday, citing a slow flu season, lower-priced generic drugs and sluggish demand for seasonal items.
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Investors may frown as a sluggish holiday season has retailers slashing prices.
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Rite Aid Corp. , the  third-largest U.S. drugstore chain, posted a smaller quarterly  loss on Thursday, aided by stronger sales of prescription  medications.
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Drugstore chain Rite Aid Corp. RAD.N  on Thursday reported a quarterly profit, reversing a year-ago  loss, on strong cash flow and a reduction in inventory-related  expense.
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The company cited lower sales of some of its most important health care products, including stents and an anemia drug whose sales were hurt by safety questions.
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CAMP HILL, Pa. -- Rite Aid Corp. is warning that its earnings and revenues for the year will fall below the low end of the company&#39;s projected ranges if lagging sales trends continue.
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After a record-setting quarter, the retailer expects momentum to slow.
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U.S. retailers are expected to post  modest November sales this week, with No. 1 retailer Wal-Mart  Stores Inc. already cutting its holiday outlook on high oil  prices and warmer weather.