RTTNews | Jun 24, 2021 10:04AM EDT

10:04 Thursday, June 24, 2021 (RTTNews.com) - Shares of drugstore chain Rite Aid Corporation (RAD) are down more than 14% Thursday morning after the company reported first-quarter results.

Revenues from continuing operations for the first quarter were $6.16 billion compared to $6.03 billion in the prior year's quarter. Analysts polled by Thomson Reuters expected the company to report revenue of $6.21 billion.

Net loss from continuing operations in the quarter narrowed to $13.1 million, or $0.24 per share from last year's first quarter net loss from continuing operations of $72.7 million, or $1.36 per share.

Adjusted earnings of $0.38 per share beat the consensus at $0.22 per share.

Looking forward to the full-year, revenues are expected to be between $25.1 billion and $25.5 billion and adjusted loss per share to be between $0.79 and $0.24.Analysts expect the company to report earnings of $0.8 per share on revenue of $24.66 billion.

RAD, currently at $17.42, has traded in the range of $8.86- $32.48 in the last one year.

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