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UPDATE 1-Rite Aid posts profit due to fee from Walgreens' failed merger deal

(Adds analysts estimates, share movement)

Sept 28 (Reuters) - Drug store operator Rite Aid Corp reported lower-than-expected quarterly revenue, hurt by a challenging reimbursement rate environment, while it posted a profit only due to a fee it got for a failed merger attempt with Walgreens Boots Alliance Inc.

The company's shares were about 3.8 percent in premarket trading on Thursday.

Rite Aid said retail pharmacy sales decreased 3.4 percent in the second quarter, while pharmacy services revenue dropped 8.7 percent as it participated in fewer regions offering Medicare Part D prescription drugs.

The company's total revenue fell 4.4 percent to $7.7 billion in the three months ended Sept. 2, just missing analysts average estimate of $7.8 billion, according to Thomson Reuters I/B/E/S.

Same-store sales fell 3.4 percent, dropping for the fifth straight quarter.

Rite Aid's net income rose to $170.7 million, or 16 cents per share, from $14.8 million, or 1 cent per share, a year earlier. The latest quarter included a $325 million merger termination fee.

Excluding one-time items, Rite Aid reported a loss of 1 cent per share, in line with analysts' estimates.

Walgreens scrapped its deal to buy Rite Aid outright in June after failing to win antitrust approval, and said it would instead buy nearly half of its smaller rival's U.S. stores, which also failed to pass regulatory muster.

Rite Aid finally got regulatory approval earlier this month to sell 1,932 stores to Walgreens Boots Alliance Inc for $4.38 billion. (Reporting by Uday Sampath in Bengaluru; Editing by Savio D'Souza)