said its second-quarter loss widened from a year ago because of increased store closings, debt-related charges and higher interest expenses.
The drugstore chain said its loss from continuing operations for the quarter ending Aug. 26 was $425 million, or $1.87 a share, compared with a loss from continuing operations of $154.4 million, or 60 cents a share, in the same period a year ago.
Contributing to the loss from continuing operations in the latest period were noncash charges of $210.6 million, including an $83.8 million loss related to the conversion of debt into equity and other debt modifications, $77.2 million for the impairment of the company's investment in
, $12.5 million from its share of drugstore.com's losses and $11.1 million for store closings and impairment.
Rite Aid also registered a cash charge of $26.1 million related to the cost of restating historical financial statements.
Quarterly revenue rose to $3.44 billion from $3.20 billion in the year-ago period. The company, which completed the sale of its
PCS Health Systems
earlier this month, also said its same-store sales rose 9.9% during the second quarter compared with the year-ago period, reflecting prescription sales growth of 10.9% and an 8.5% increase in front-end same-store sales.