Rite Aid accounting problem last fall

greenspun.com : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread

On Tuesday, Rite Aid revised its 1997 and
1998 results lower by more than $1 billion,
cleaning up an accounting debacle that drove
its stock down 70 percent.

. . .

The restated figures gave investors and
analysts their first real look at the
troubled company's financial status since
Rite Aid announced last fall it could no
longer provide reliable profit forecasts
due to accounting difficulties.

Tampa Bay Online

-- spider (spider0@usa.net), July 12, 2000


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