People aren’t getting sick, sniffled Rite Aid’s CEO Mary Sammons, after reducing 2008 targets. Sure, the company, which now expects to lose close to 29 cents a share for 2008 on sales of $24.5 billion, as compared to earlier projections for a 21-cent per share loss on sales of $24.8 billion, is having a tough going.
But of course that wouldn’t have anything to do with its strong competition, could it? Nope. Instead, the CEO of a stock nearing 52-week lows decides to spout:
“Like the rest of the industry, our business has been negatively impacted by a slow start to the cough, cold and flu season and a more cautious consumer.”
Maybe the PR team got busy, and couldn’t shut her up fast enough?