Rite Aid Corporation (NYSE:RAD) Q2 2021 Earnings Conference Call - Final Transcript

Sep 24, 2020 • 08:30 am ET


Rite Aid Corporation (NYSE:RAD) Q2 2021 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the Rite Aid Corporation Second Quarter 2021 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session to ask a question during the session. [Operator Instructions].

Thank you. I would now like to hand the conference over to your speaker for today, Trent Kruse, Senior Vice President of Investor Relations and Treasury. Please go ahead.

Trent Kruse

All right. Thank you Jack and good morning everyone. We welcome you to our fiscal 2021 second quarter earnings conference call. On a personal note, I'm really excited to be a part of the Rite Aid team and I'm eager to help the team deliver on our vision and of course to work with all of you listening today. On the call with me this morning, are Heyward Donigan; Jim Peters; Dan Robson; and Matt Schroeder. As we mentioned in our release, we are providing slides related to material we will be discussing today. These slides are provided on our website at riteaid.com, under the Investor Relations Information tab. While management will not be speaking directly to the slides, these slides are meant to facilitate your review of the company's results, as we use as a reference document, following the call.

Before we start, I'd like to remind you that today's 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 SEC. Also we will be using certain non-GAAP measures in our release and in the accompanying slides. The definition of the non-GAAP measures, along with a reconciliation to the related GAAP measure, are described in our press release and slides.

With that, let me turn the call over to Heyward. Heyward?

Heyward Donigan

Thanks Trent. We are really excited to have you onboard, in this newly created role, as we continue aligning key personnel with our company's evolution strategy, and as a member of our senior team, Trent will play an essential role for our company, not only by leading our Investor Relations and Treasury Efforts, but also overseeing the enhancements of our environmental, social and governance policies, which are more important than ever in this environment. I wanted to thank Byron Purcell for all the great work he has done, in and covering both IR and Treasury during a really busy time for our company, and as a crucial member of our go-forward team, Byron will continue serving as Treasurer and will be working closely with Trent, to help drive our business forward.

Now, let's turn our attention to our results for Q2, and the progress we're making to bring our new RX evolution strategy to life. As a company, we're taking significant steps