Rite Aid Enjoys First Profitable Year Since Arrival of Management Team.
By David DeKok, The Patriot-News, Harrisburg, Pa. Knight Ridder/Tribune Business News
Apr. 9--Rite Aid Corp. reported Thursday that fiscal 2004 was its first profitable year since the current management team took over in late 1999 after a financial scandal that led to criminal charges against several former top executives.
For the fiscal year that ended Feb. 28, Rite Aid, which operates about 3,400 stores in 28 states and the District of Columbia, achieved net income of 11 cents a share, compared to a loss of 28 cents a share in fiscal 2003.
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