Rite Aid shares plummet; CEO cites Covid uncertainty for drug store chain’s cautious outlook

CNBC2021-06-25

Rite Aid CEO Heyward Donigan told CNBC on Thursday she's "cautiously optimistic" the U.S. can avoid another round of strict Covid restrictions despite the presence of thedelta variant. "We all hope ...

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Liha
2021-06-25
Liha
Where r T
KAHHUAT
2021-06-25
KAHHUAT
Wow
- KAHHUAT:
  Pls comment
- Liha:
  Here
KinSang
2021-06-25
KinSang
Wow
- Jojofi:
  [Happy]
Joru
2021-06-25
Joru
Hi
KohJinHui
2021-06-25
KohJinHui
Wow
- Joru:
  Hi
4cdd3838
2021-06-25
4cdd3838
Nice

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So as we look forward, we think we need to be very cautious and prudent in our guidance,” said Donigan, who has been CEO of Pennsylvania-based Rite Aid since August 2019.\n“We are expecting some improvement. We’re not expecting full improvement,” Donigan added.\nShe also acknowledged, “It’s very hard, it remains very hard to predict, a full-year result in a retail pharmacy in the middle of a pandemic because we are … still in the throes of this to some degree.”\nThe company projected full-year revenue of between $25.1 billion and $25.5 billion, which exceeded Wall Street’s expectations of $24.66 billion, according to FactSet.\nRite Aid’s outlook is not factoring inpotential Covid vaccine boostersor vaccinations for children under the age of 12, Donigan noted. Trials examining the vaccine in kids under age 12 are currently ongoing.\nThe Food and Drug Administration cleared Pfizer’s Covid vaccine for use in kids ages 12 to 15a little more than a month ago. Moderna, which also makes a two-dose vaccine, has asked the FDA to expand its emergency use authorization to cover adolescents from 12 to 17.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":122351714,"gmtCreate":1624599295938,"gmtModify":1633950674890,"author":{"id":"3580021038510346","authorId":"3580021038510346","name":"Liha","avatar":"https://static.tigerbbs.com/a4ba484754a4e8fc7a7c54ab52161218","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3580021038510346","authorIdStr":"3580021038510346"},"htmlText":"Where r T","listText":"Where r T","text":"Where r 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