Management is currently looking at its 4,900 units on astore-by-store basis, said John Standley, Rite Aid's president andchief operating officer. "I do think there will be some additionalstores closures," he said. "You'll see some clumps here and thereas we work our way through it."
Store closures were, in part, what led to the company's$243.1-million net loss in the quarter, compared to a $84.8-millionshortfall during the same period in 2007. Other charges leading tothe loss were a result of underperforming stores and taxsetbacks.
Same-store sales at Rite Aid were 1.4% year over year, rising2.3% in the stores' front ends and 1% in pharmacies. Total revenueswere $6.47 billion, down from $6.5 billion in 2007's Q3 because of239 store closings in the last 12 months.
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