Rite Aid is chopping its annual earnings forecast three days before its shareholders vote on whether to approve the sale of the company. Shares of the nation’s third-largest drugstore chain tumbled 10 percent Monday after the company said generic drug pricing isn’t shaping up how it expected in April when it first made its fiscal 2019 forecast. Rite Aid said it changed its outlook after realizing that reductions in the cost of generic drugs are coming in about $80 million lower than the company expected when it established its fiscal 2019 forecast. …read more
Source:: Yahoo Finance
