January 3, 2018 / 9:34 PM / 20 days ago

Rite Aid's third-quarter profit soars

Jan 3 (Reuters) - Rite Aid Corp on Wednesday posted a jump in quarterly profit, as the drugstore operator benefited from its ongoing sale of 1,932 U.S. stores to larger rival Walgreens Boots Alliance Inc.

Rite Aid’s net income rose to $81.03 million, or 8 cents per share, in the third quarter ended Dec. 2, from $15.01 million, or 1 cent per share, a year earlier.

Total revenue fell to $5.35 billion from $5.67 billion. (Reporting by Vibhuti Sharma in Bengaluru; Editing by Maju Samuel)

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