form8-k.htm
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
Date
of report (Date of earliest event reported): September 27, 2007 (September
27,
2007)
RITE
AID CORPORATION
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(Exact
name of registrant as specified in its
charter)
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Delaware
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1-5742
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23-1614034
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(State
or Other Jurisdiction
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(Commission
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(IRS
Employer
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of
Incorporation)
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File
Number)
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Identification
No.)
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30
Hunter Lane, Camp Hill, Pennsylvania
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17011
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant's
telephone number, including area code
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(717)
761-2633
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|
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None
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(Former
Name or Former Address, if Changed Since Last
Report)
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Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
[
] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[
] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[
] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[
] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM
2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On
September 27, 2007, we announced our financial position and results of
operations as of and for the thirteen and twenty-six week periods ended
September 1, 2007. The press release is attached hereto as Exhibit 99.1 and
is
incorporated herein by reference. The announcement includes a non-GAAP financial
measure, "Adjusted EBITDA." We define Adjusted EBITDA as net income (loss)
from
operations excluding the impact of income taxes, interest expense, depreciation
and amortization, LIFO adjustments, charges or credits for store closing and
impairment, inventory write-downs related to closed stores, stock-based
compensation expense, debt modifications and retirements, litigation proceeds,
litigation expense, expense of the defense against litigation related to prior
managements' business practices and the defense of prior management, sales
of
assets and investments, and other non-recurring items. We reference this
non-GAAP financial measure frequently in our decision-making because it provides
supplemental information that facilitates internal comparisons to historical
operating performance of prior periods and external comparisons to competitors'
historical operating performance. In addition, incentive compensation is based
on Adjusted EBITDA and we base our forward-looking estimates on Adjusted EBITDA
to facilitate quantification of planned business activities and enhance
subsequent follow-up with comparisons of actual to planned Adjusted EBITDA.
We
include this non-GAAP financial measure in our earnings announcement in order
to
provide transparency to investors and enable investors to better compare our
operating performance with the operating performance of our
competitors. The press release attached hereto as Exhibit 99.1
includes a reconciliation of Adjusted EBITDA to net income (loss), the most
directly comparable GAAP financial measure.
ITEM
9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c)
Exhibits.
99.1
Registrant's Press Release, dated September 27, 2007
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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RITE
AID CORPORATION
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Dated
: September 27, 2007
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By:
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/s/
Robert B. Sari
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Name:
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Robert
B. Sari
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Title:
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Executive
Vice President,
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General
Counsel and Secretary
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EXHIBIT
INDEX
Exhibit
No.
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Description
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99.1
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Registrant's
Press Release dated September 27,
2007
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