Rite Aid F2Q10 (Qtr End 8/29/09) Earnings Call Transcript

Sep. 24, 2009 2:30 PM ETRite Aid Corporation (RAD)
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Rite Aid Corporation (NYSE:RAD) F2Q10 Earnings Call September 24, 2009 8:30 AM ET


Chris Hall - Investor Relations

Mary F. Sammons - Chairman of the Board, Chief Executive Officer

Frank G. Vitrano - Chief Financial Officer, Senior Executive Vice President, Chief Administrative Officer

John T. Standley - President, Chief Operating Officer


Meredith Adler - Barclays Capital

Lisa Gill - J.P. Morgan

Mark Wiltamuth - Morgan Stanley

Bryan Hunt - Wells Fargo Securities

Carla Casella - J.P. Morgan

John Heinbockel - Goldman Sachs

Analyst for Ed Kelly - Credit Suisse

Emily Shanks - Barclays Capital

Karu Martesen - Deutsche Bank

Mary Galeberger - Imperial Capital

Neil Currie - UBS


Good morning. My name is Celithia and I will be your conference operator today. At this time, I would like to welcome everyone to Rite Aid's second quarter fiscal 2010 conference call. (Operator Instructions) Mr. Hall, you may begin.

Chris Hall

Thank you and good morning, everyone. We welcome you to our second quarter conference call. On the call with me are Mary Sammons, our Chairman and CEO; John Standley, our President and Chief Operating Officer; and Frank Vitrano, our Chief Financial and Chief Administrative Officer. On today’s call, Mary will give an overview of our second quarter results and fiscal 2010 outlook, Frank will discuss the key financial highlights, John will discuss our business, then we will take questions.

As we mentioned in our release, we are providing slides related to the material we will be discussing today on our website, www.RiteAid.com, under the investor relations information tab for conference calls. We will not be referring to them directly in our remarks but hope you will find them helpful as they summarize some of the key points made on the call.

Before we start, I’d like to remind you

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