Rite Aid Corp RAD
Q3 2012 Earnings Call Transcript

Transcript Call Date 12/15/2011

Operator: Good morning. My name is Cassandra, and I will be your conference operator today. At this time, I would like to welcome everyone to the Rite Aid Third Quarter Fiscal 2012 Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. Thank you.

Now, I will like to turn the call over to Matt Schroeder. You may begin.

Matt Schroeder - Group VP, Strategy, IR and Treasurer: Thank you, Cassandra, and good morning, everyone. We welcome you to our third quarter conference call. On the call with me are John Standley, our President and Chief Executive officer, and Frank Vitrano, our Chief Financial and Chief Administrative Officer.

On today’s call, John will give an overview of our third quarter results and discuss our business. Frank will discuss the key financial highlights and fiscal 2012 outlook, and then we will take questions.

As we mentioned in our release, we are providing slides related to the material we will be discussing today, including annual earnings and sales guidance on our website, under the Investor Relations Information tab for conference calls. This guidance is a point-in-time estimate made early in the fiscal year. The Company expressly disclaims any current intention to update it.

This conference call and the related slides will be available on the Company’s website until the next earnings call unless the Company withdraws them earlier, and should not be relied upon thereafter. We will not be referring to the slides directly in our remarks, but hope you’ll find them helpful as they summarize some of the key points made on the call.

Before we start, I’d like to remind you that today’s conference call includes certain forward-looking statements. These forward-looking statements are made in the context of certain risks and uncertainties that can cause actual results to differ. These risks and uncertainties are described in our press release, in Item 1A of our most recent Annual Report on Form 10-K, and in other documents we file or furnish to the Securities and Exchange Commission. Also, we will be using a non-GAAP financial measure. The definition of the non-GAAP financial measure along with the reconciliations to the related GAAP measures are described in our press release.

With these remarks, I’d now like to turn it over to John.

John T. Standley - President and CEO: Thank you, Matt, and thank you everyone for joining us this morning to review our fiscal 2012 third quarter results. It is really exciting to see the hard work and effort of our store, distribution and office associates driving our results. Our teams focus on our key initiatives, grew our same-store sales and adjusted EBITDA and reduced our net loss compared to year ago.

In fact, our team's efforts have now grown same-store sales and adjusted EBITDA for four consecutive quarters. Based on our strong third quarter results, we are raising our adjusted EBITDA guidance. Frank, will provide more details about third quarter results, and fiscal 2012 guidance in a few minutes. One of the most important initiatives for this quarter was our immunization program.

Read our Earnings Call Transcript disclaimer.
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