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Article: Rite Aid Reports Small 4Q Profit
- Article from:
- AP Online
- Article date:
- April 12, 2007
CopyrightCopyright 2007 Associated Press/AP Online. This material is published under license from the publisher through YellowBrix, Alexandria, Virginia. All inquiries regarding rights should be directed to YellowBrix. (Hide copyright information)
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HARRISBURG, Pa. - Rite Aid Corp. on Thursday reported a small fourth-quarter profit that missed expectations, and the nation's third-largest drugstore chain said it has agreed to divest two dozen stores in a deal for 1,850 Brooks and Eckerd stores that it expects to close in May.
Rite Aid said it agreed with Federal Trade Commission staff to shed the 24 stores in nine states as part of the acquisition. The move is expected to satisfy antitrust concerns. The commission still must approve the deal, and Rite Aid remains in talks with state attorneys general, which could yield more divestitures.
The deal is now expected to close by the end of May, after Rite Aid originally predicted a ...