Rite Aid Corporation RAD posted mixed second-quarter fiscal 2023 results, wherein the top line beat the Zacks Consensus Estimate while the bottom line missed the same. However, both metrics worsened from the respective year-ago fiscal period’s readings.Shares of this currently Zacks Rank #4 (Sell) RAD have lost 28.9% in the past three months compared with the industry's decline of 19%.Q2 HighlightsRite Aid incurred an adjusted loss of 63 cents per share, wider than the adjusted loss of 41 cents recorded in the prior-year fiscal quarter. The Zacks Consensus Estimate was pegged at a loss of 56 cents per share.Revenues declined 3.5% from the year-ago fiscal quarter’s tally to $5,901.1 million but surpassed the Zacks Consensus Estimate of $5,768 million. Sluggishness in both Retail Pharmacy and Pharmacy Services segments hurt sales.In the fiscal second quarter, the Retail Pharmacy segment's revenues fell 1.1% due to a reduction in COVID-19 vaccines and testings as well as store closures, offset by higher acute and maintenance prescriptions. Retail Pharmacy same-store sales were up 5.6%, driven by an 8% rise in pharmacy sales, partly offset by the 0.3% dip in front-end same-store sales. Excluding cigarettes and tobacco products, front-end same-store sales inched up 0.2% from the year-ago fiscal period’s reading.Prescription count at the same-store sales, adjusted to 30-day equivalent, rose 3.1% on the back of non-COVID-19 prescriptions (up 2.1%), acute prescription (up 5.3%) and maintenance prescriptions (up 1.2%). Prescription sales constituted 70.7% of the overall drugstore sales. Total store count at the end of the reported quarter was 2,352.In the Pharmacy Services segment, revenues declined 9% due to client loss announced earlier and reduced Elixir Insurance membership.In the reported quarter, adjusted EBITDA plunged 26.1% from the year-ago fiscal period’s level to $78.5 million. The adjusted EBITDA margin contracted 40 bps to 1.3% in the quarter under review. SG&A expenses decreased 5.9% from the year-ago fiscal period’s reading to $1,193.6 million.Financial StatusRite Aid ended the reported quarter with cash and cash equivalents of $46.8 million, long-term debt (net of current maturities) of $3,222.7 million and a total shareholders' equity deficit of $336.4 million.For fiscal 2023, capital expenditure is forecast to be $225 million, which is to be utilized for investments in digital capabilities, technology, prescription file purchases, distribution center automation and store remodels. Rite Aid also expects to generate a positive free cash flow in fiscal 2023.FY23 OutlookManagement reiterated its fiscal 2023 expectations and trimmed view for net loss and Adjusted EBITDA. Rite Aid’s revenues are anticipated to be $23.6-$24 million. The Retail Pharmacy Segment’s revenues are likely to be $17.35-$17.65. The Pharmacy Services Segment’s revenues are expected to be $6.25-$6.35 billion.Net loss is likely to be between $477.3 million and $520.3 million. Adjusted EBITDA is anticipated between $450 million and $490 million compared with the earlier view of $460-$500 million, induced by the expectations of cautious consumer demand and supply-chain headwinds. The Retail Pharmacy Segment’s Adjusted EBITDA is predicted between $305 million and $335 million, while the Pharmacy Services Segment’s Adjusted EBITDA is projected in the band of $145-$155 million.Adjusted net loss per share is now envisioned between $1.52 and 97 cents compared with the loss of 66 cents-$1.19 predicted earlier.Solid Retail BetsWe highlighted three better-ranked stocks in the Retail - Wholesale sector, namely Tecnoglass TGLS, Ulta Beauty ULTA and CVS Health CVS.Tecnoglass manufactures and sells architectural glass and aluminum products for the residential and commercial construction industries. TGLS currently sports a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Tecnoglass’ current financial-year sales and earnings per share suggests growth of 28.2% and 47.7%, respectively, from the corresponding year-ago reported figures. TGLS has a trailing four-quarter earnings surprise of 24.4%, on average.Ulta Beauty, a leading beauty retailer in the United States, currently has a Zacks Rank #2 (Buy). ULTA has a trailing four-quarter earnings surprise of 49.8%, on average.The Zacks Consensus Estimate for Ulta Beauty’s current financial-year sales suggests growth of 10.4% from the corresponding year-ago reported figures. ULTA has an expected EPS growth rate of 10.7% for three-five years.CVS Health, a pharmacy innovation company with integrated offerings across the entire spectrum of pharmacy care, currently has a Zacks Rank of 2. The company has a trailing four-quarter earnings surprise of 6.7%, on average. Shares of CVS have risen 7% in the past three months.The Zacks Consensus Estimate for CVS Health’s current financial-year sales and earnings per share suggests growth of 6.6% and 1.1%, respectively, from the corresponding year-ago reported numbers. CVS has an expected EPS growth rate of 7.7% for three-five years. 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Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Rite Aid Corporation (RAD): Free Stock Analysis Report CVS Health Corporation (CVS): Free Stock Analysis Report Ulta Beauty Inc. (ULTA): Free Stock Analysis Report Tecnoglass Inc. (TGLS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research