Rite Aid posts widening loss in its fiscal second quarter

Rite Aid Corp. reported a quarterly loss of more than $300 million amid store closures and fewer customers coming to the drugstore for COVID-19 tests and vaccines, Forbes reports. The drugstore chain on Sept. 29 reported a loss of $331.3 million for its fiscal 2023 second quarter ended Aug. 27 of this year compared to a loss of $100.3 million a year earlier. Meanwhile, Rite Aid said revenue dropped to $5.9 billion from $6.11 billion in the year ago period.