Rite Aid Exec: Impossible To Stop NYC Store Thefts

  • On Thursday, Rite Aid reported a tough quarter when the pharmacy chain reported a much larger-than-expected loss, sending shares plunging 28 percent in the session.
  • Rite Aid’s chief retail officer Andre Persaud addressed the issue on the company’s earnings call, saying it is impossible to stop stealing in New York City shops.
  • Overall, Rite Aid reported a net loss for the quarter of $331.3 million, or $6.07 per share, compared with a net loss of $100.3 million, or $1.86 per share a year earlier.
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