Rite Aid Corp., the No. 3 U.S. drugstore chain, said its fiscal third- quarter loss widened as profit from prescriptions shrank and sales of non-pharmacy items slowed. Its shares fell 26 percent.
The loss widened to $112.8 million from $105.7 million a year earlier. Sales in the quarter ended Dec. 1 rose 5.7 percent to $3.73 billion, the company said in a statement.
The quarterly loss is the 15th in a row for Rite Aid, which is being investigated by the Securities and Exchange Commission for an accounting scandal under former management. Sales of general merchandise rose less than expected, even after Chief Executive Officer Robert Miller lowered prices and kept more items in stock.
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