Rite Aid Corporation (NYSE:RAD) Q4 2020 Earnings Conference Call - Final Transcript

Apr 16, 2020 • 08:30 am ET


Rite Aid Corporation (NYSE:RAD) Q4 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by. My name is Carmen and I will be your conference operator today. At this time, I would like to welcome everyone to the Rite Aid Fourth Quarter 2020 Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Byron Purcell, Head of Investor Relations. Please go ahead.

Byron Purcell

Thank you, and good morning, everyone. We welcome you to our fiscal 2020 fourth quarter earnings conference call. On the call with me today are Heyward Donigan, President and Chief Executive Officer; Jim Peters, Chief Operating Officer; Dan Robson, President of Elixir; and Matt Schroeder, Chief Financial Officer.

On today's call, Heyward will provide introductory comments and an update on our response to the COVID-19; Jim will provide an update on the retail business; Dan will provide an update on the Pharmacy Services business; Matt will provide an update on the fourth quarter results and COVID-19 financial impact; and then we will take questions.

As we mentioned in our release, we're providing slides related to the material we'll be discussing today. These slides are provided on our website, www.riteaid.com under the Investor Relations information tab. We will not be referring to them in our remarks and 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 today, this conference call includes Certain forward-looking statements. These forward-looking statements are presented in the context of certain risks and uncertainties that can cause actual results to differ. These risks and uncertainties are described in our press release in Item 1A of our most recent annual report on Form 10-K and in other documents that we file or furnish to the Securities and Exchange Commission. Also, we'll be using certain forward -- or using certain non-GAAP measures in our release in the accompanying slides. The definition of the non-GAAP measures, along with the reconciliation of the related GAAP measure are described in our press release and slides. With these remarks, I'd now like to turn it over to Heyward.

Heyward Donigan

Thanks, Byron. And thanks, everyone for joining us. And since this is the first time we'll be doing this call, all sitting in different states in our homes, bear with us. So we're going to discuss our results for Q4 and the year in just a few moments. But make no mistake, our top priority as a Company right now is serving our communities. Of course, our Rite Aid customers, our EnvisionRxOptions employer and health plan clients during this unprecedented COVID-19 crisis. And I must say, I have over 30 years of experience in the health care industry, including dealing with SARS and the swine flu, which I will never forget. But I don't think any of us in health care has experienced something like this. So it is new territory for all of us, and as a leader, I've never been more proud than I am right now of