And Rite Aid provided revenue guidance for fiscal 2020 below the consensus Wall Street estimate.
On the company's Q4 conference call, Rite Aid CEO John Standley said the pharmacy retailer has three top priorities.
Rite Aid's third priority is to implement new processes and procedures to control costs more effectively and maximize operational efficiency.
The problem with these strategic priorities, though, is that it's hard to nail down just how much they will actually improve Rite Aid's top and bottom lines.
Now what One significant development for Rite Aid is just around the corner: The company plans to execute a reverse stock split on April 22, at a ratio of 1 to 20.