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Rite Aid metrics better than views post-sale

July 17, 2017

Rite Aid (NYSE: RAD) is gaining 6% after-hours after the company issued better-than-expected pro-forma metricsfollowing the asset sale to Walgreens (NYSE: WBA).

Despite selling almost half its stores, the company said Pro-forma adjusted EBITDA after the sale for the year ended March 4, 2017 was $742.97M versus $1.137B before the sale.

The average pro-forma total store sales for March 4, 2017 after the merger will be $6.1M, versus $5.74M before the sale.

Net proceeds of $4.9 billion from the sale will be used to pay down debt.

http://bit.ly/2utIwTS

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