Rite Aid reports Q3 EPS (14c), consensus (31c)

Reports Q3 revenue $6.08B, consensus $5.94B. Retail comparable same store prescriptions increased 4.4%. Same store front-end sales, excluding tobacco, increased 2.7%. "Our third quarter beat consensus on top and bottom line, and we’re pleased with our results at Elixir and our accelerated sales growth at retail. However, based on recent trends, we are lowering our full year guidance due to headwinds including pharmacy margin, seasonal markdowns and higher shrink," said Heyward Donigan, president and chief executive officer. "In addition, we are kicking off a performance acceleration program, which allows us to fast-track initiatives that will improve sales, script volume and operating margins, and free up cash. We look forward to updating you on our progress at year end."