Rite Aid

Rite Aid Corp. engages in the ownership and management of retail drug stores. It operates through following segments: Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment includes branded and generic prescription drugs, health and beauty aids, personal care products, and walk-in retail clinics. The Pharmacy Services segment offers transparent and traditional pharmacy benefit management for insurance companies, employers, health plans, and government employee groups. The company was founded by Alex Grass on September 12, 1962 and is headquartered in Philadelphia, PA.

Earnings data Q4 2023

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Rite Aid Corp. engages in the ownership and management of retail drug stores. It operates through the Retail Pharmacy and Pharmacy Services segments. The Retail Pharmacy segment includes branded and generic prescription drugs, health and beauty aids, personal care products, and walk-in retail clinics. The Pharmacy Services segment offers transparent and traditional pharmacy benefit management for insurance companies, employers, health plans, and government employee groups. The company was founded by Alex Grass on September 12, 1962 and is headquartered in Philadelphia, PA.

Rite Aid is a health products and services company with 2,400 locations across 17 states.

The company's omnichannel business includes digital, retail, and delivery touchpoints. Rite Aid is a top 20 seller of speciality medications, per its investor website.

In addition to its retail business, Rite Aid owns a pharmacy benefits subdivision (Elixir) and a personalized health services and coaching arm, Health Dialog, which has served 10MM members as of May 2022.

The company has reported $1.85 billion of liquidity with no debt maturities until 2025. According to its investor website, Rite Aid expects to be free cash flow (FCF) positive in FY23.

In Q2 2022, Rite Aid shared a three-part growth strategy aimed at deepening market share, expanding into new markets, and creating new offerings.

To grow the current business, Rite Aid is aiming to increase its e-commerce and digital sales, refresh its loyalty program, and grow its specialty pharmacy offering, which focuses on serving customers with complex health conditions.

New market expansion plans include increasing Rite Aid's footprint of "small format" pharmacies in underserved communities and implementing "store within a store" partnerships.

Rite Aid also aims to grow via new offerings, such as expanded health plan and health system clinical services, a pharmacy benefit manager (PBM) as a service offering, and new strategic partnerships.

Rite Aid Investor Relations

*This is not investment advice.

Shares of Rite Aid Corp. plunged toward a 2 1/2-year low Thursday, after Deutsche Bank analyst George Hill issued a dire warning that the drugstore chain's equity could be worthless.

The Ratings Game: Rite Aid stock plunges after Deutsche Bank cuts target to $1, warns of a ‘dramatic negative inflection point'

Medicare Part B will cover up to eight over-the-counter COVID-19 tests each month PHILADELPHIA, April 4, 2022 /PRNewswire/ -- Beginning today, people with Medicare Part B can visit any Rite Aid (NYSE: RAD) location and receive up to eight over-the-counter COVID-19 tests every month at no cost. As part of the Medicare COVID-19 Over-the-Counter Test Initiative, people covered by Medicare Part B can bring their red, white, and blue Medicare card to any Rite Aid location to receive their no cost tests.

Rite Aid Offers Free COVID-19 Tests to Medicare Beneficiaries

Appointments can be made online and walk-in appointments available PHILADELPHIA , March 30, 2022 /PRNewswire/ -- Rite Aid (NYSE: RAD) today announced it will begin administering a second booster of the mRNA Pfizer and Moderna COVID-19 vaccines for eligible individuals, following approval by the Centers for Disease Control and Prevention (CDC) and the Food and Drug Administration (FDA). Individuals aged 50 and older and certain immunocompromised individuals aged 12 and older may receive a second booster at least four months after their first booster.

Second COVID-19 Boosters Now Available at All Rite Aid Locations for Eligible Individuals

CAMP HILL, Pa.--(BUSINESS WIRE)--Rite Aid Corporation (NYSE: RAD) said today that it will release financial results for its Fiscal 2022 Fourth Quarter, which ended February 26, 2022, on Thursday, April 14, 2022. The company will hold an analyst call at 8:30 a.m. Eastern Time with remarks by Rite Aid's management team. The call will be broadcast via the Internet at https://investors.riteaid.com. The telephone replay will be available beginning at 12:00 p.m. Eastern Time on Thursday, April 14, 20

Rite Aid to Release Fourth Quarter Results on April 14

Rite Aid eliminated its chief operating officer position and consolidated pharmacy roles to “streamline operations.”

Rite Aid Shakes Up Management, Eliminates COO Position

Shares of Rite Aid Corp. RAD, -1.42% were indicated up nearly 1% in premarket trading Tuesday, after the drug store chain announced a realignment of its management team that includes the elimination of the chief operating officer (COO) position and consolidation of leadership of its pharmacy business. As part of the realignment, COO Jim Peters and Chief Pharmacy Officer Jocelyn Konrad have left the company, after both were in their roles since October 2019.

Rite Aid eliminates COO position as part of management realignment

PHILADELPHIA--(BUSINESS WIRE)--Rite Aid Corporation Realigns Management to Streamline Operations

Rite Aid Corporation Realigns Management to Streamline Operations

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President Joe Biden announced during his State of the Union address on Tuesday that individuals who test positive for Covid-19 at a pharmacy will soon be able to get free antiviral treatments immediately after. The cost will be funded by the federal government, which could result in a huge boost to the revenue of companies in the pharmaceutical, pharmacy and diagnostic industries over the coming year.

Health Care Stocks to Watch as Test to Treat Plan Looks to Prevent Lockdowns

CAMP HILL, Pa.--(BUSINESS WIRE)--Underscoring its new identity, Rite Aid Healthy Futures is announcing a $10 million, six-city initiative supporting healthy, equitable neighborhoods

Rite Aid Healthy Futures Launches Its Next Era of Philanthropy

Pharmacy chains may be shuttering locations, but that's not necessarily a reason to panic.

Is the Pharmacy Dying?

Babylon Holdings Ltd

SEATTLE, Feb. 17, 2022 /PRNewswire/ -- Today, Bartell Drugs (Bartell's), a wholly-owned subsidiary of Rite Aid Corporation (NYSE: RAD), and Higi, a wholly-owned subsidiary of Babylon (NYSE: BBLN), announced the roll out of enhanced health self-screening stations, now available at 50 Bartell's stores throughout the Puget Sound region. The partnership with Higi, a consumer health engagement company that provides a connected network of Smart Health Stations and digital health engagement tools, allows customers a free option to check their risk for hypertension, obesity, type 2 diabetes, heart attack and stroke.

BARTELL DRUGS EXPANDS HEALTH SELF-SCREENING OPTIONS WITH LAUNCH OF NEW HIGI SMART HEALTH STATIONS

Despite cost headwinds, strength in online services and the PBM market will likely aid Rite Aid (RAD) in the times ahead.

Rite Aid (RAD) Dips 21.6% in Three Months: Can It Bounce Back?

A spate of high-profile robberies at New York City Rite Aid locations has highlighted store closures in the area, but the pharmacy and retail giant is pushing back against the notion that its workers are being left without jobs – or that its shops are shuttering only as a result of organized retail theft.

Rite Aid denies claims that NYC store closures leading to job loss amid high-profile NYC robberies

Rite Aid (RAD) reported earnings 30 days ago. What's next for the stock?

Rite Aid (RAD) Down 16.1% Since Last Earnings Report: Can It Rebound?

Although high costs and a drab view remain concerning, Rite Aid (RAD) looks well-positioned on robust demand, enhanced omni-channel capabilities and strength in PBM.

Solid Demand & Other Efforts Aid Rite Aid (RAD) Amid Cost Woes

Rite Aid may form closer ties with the pharmacy benefit manager Prime Therapeutics, which is owned by Blue Cross and Blue Shield plans.

Rite Aid May Form Even Closer Ties With Prime Therapeutics PBM

Increased demand for COVID-19 vaccination and testing, and growth in the Retail Pharmacy unit aid Rite Aid's (RAD) Q3 results.

Rite Aid (RAD) Q3 Earnings Beat Estimates, Revenues Lag

Rite Aid CEO Heyward Donigan said he plans to move away from traditional in-store pharmacies, and instead to mail order and digital retail markets.

Rite Aid says it plans to shut 63 stores — and will likely find even more to close in the coming months

Surging COVID-19 testing and fewer stores could mean more profits for investors.

Why Rite Aid Stock Rocketed Today

Rite Aid Corporation (RAD) CEO Heyward Donigan on Q3 2022 Results - Earnings Call Transcript

Rite Aid Corporation shares were up almost 20% early on Tuesday (Dec. 21) after the company announced it has kicked off a plan to close at least 63 stores across the U.S., a move focused on reducing costs and increasing profitability as much as $25 million.  The company's review of its operations is ongoing and […]

Rite Aid Shares Soar as Chain Announces Store Closure Plan

Rite Aid Corp (NYSE: RAD) is trading higher Tuesday after the company announced its fiscal third-quarter 2022 earnings results and issued guidance above estimates.  Rite Aid reported quarterly adjusted earnings of 15 cents per share, which may not compare to estimates for a loss of 14 cents per share.

Why Rite Aid Shares Are Ripping Higher Today

Rite Aid announced Tuesday it is closing another 63 stores to save about $25 million year.

Rite Aid is closing more than 60 stores

Rite Aid (RAD) delivered earnings and revenue surprises of 183.33% and 0.83%, respectively, for the quarter ended November 2021. Do the numbers hold clues to what lies ahead for the stock?

Rite Aid (RAD) Q3 Earnings Surpass Estimates

Rite Aid Corp  (NYSE: RAD) has reported Q3 FY22 adjusted EPS of $0.15, compared to $0.40 a year ago, but a turnaround from a loss of $(0.41) per share in Q2 FY22. Earnings: Revenues increased 1.8% Y/Y to $6.23 billion, missing the estimate of $6.32 billion.

News for Rite Aid Stock (RAD)