Drugstore.com revises 3Q outlook

Online retailer drugstore.com Inc. said Friday it will likely report third-quarter sales below Wall Street analysts' expectations due to a change in its partnership agreement with drugstore chain Rite Aid Corp.

The company said Rite Aid will now own the rights to its online prescription pick-up service in which Rite Aid customers can order prescriptions online and pick them up at the store. The change, drugstore.com said, will lower the online retailer's total revenue.

Drugstore.com now is targeting a loss of $2.7 million to $3.7 million on sales of $85 million to $90 million for the third quarter.

Analysts polled by Thomson Reuters expect a slight loss in the quarter with revenue of $118.9 million.

For the year, the online retailer said it will likely report sales of $370 million to $380 million and a loss of $200,000 to $4.2 million.

Analysts anticipate a loss for the year and revenue of $494.1 million.