RTTNews | Sep 24, 2020 10:10AM EDT

10:09 Thursday, September 24, 2020 (RTTNews.com) - Rite Aid Corp. (RAD) shares are down on Thursday morning, despite the company reported a narrower loss for the second quarter. The stock is currently at its five-year low at $11.58, down 13.26 percent from the previous close of $13.35.

RAD has been falling for the last several days. The company posted a net loss of $13.19 million lesser than $79.28 million loss posted last year. Revenue for the quarter increased 11.5 percent to $5.98 billion from $5.366 billion a year ago. For fiscal 2021, Rite Aid Corp. projects a net loss in a range of $190 to $140 million. The healthcare services and retail products company expect revenues to be between $23.5 billion and $24 billion. Same-store sales are expected to increase 3-4 percent from fiscal 2020.

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