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.

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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.

The company has come under increased pressure for their high levels of debt, as well as ongoing litigation stemming from the opioid epidemic

Rite Aid Is Filing For Bankruptcy: Here's What's Happened

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NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange LLC (“NYSE” or “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Rite Aid Corporation (the “Company”) — ticker symbol RAD — from the NYSE. Trading in the Company's common stock will be suspended immediately. NYSE Regulation reached its decision that the Company's common stock is no longer suitable for listing pursuant to Listed Company Manual Section 802.01D af.

NYSE to Commence Delisting Proceedings Against Rite Aid Corporation (RAD)

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With drugstore chain Rite Aid filing bankruptcy, the already long list of busts adds a fairly high-profile name.

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Bonds issued by troubled drugstore chain Rite Aid Corp. sold off on Monday, after the company filed for bankruptcy, facing billions of dollars of debt related to opioid lawsuits.

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Drugstore chain Rite Aid is the latest U.S. company to seek bankruptcy protection following pressure from lawsuits alleging that they helped fuel the opioid crisis.

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Drugstore company Rite Aid (RAD) filed for bankruptcy, facing slowing sales and opioid litigation. The company will also close underperforming stores according to a turnaround plan agreed upon by its key creditors.

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Rite Aid Corp (NYSE:RAD) stock is down 5.6% to trade at $0.61 at last check, after the pharmacy concern filed for Chapter 11 bankruptcy protection this weekend, amid slowing sales, increasing debt, and opioid-related lawsuits.

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Rite Aid (NYSE: RAD ) stock is on the move Monday after the pharmacy chain filed for Chapter 11 bankruptcy protection in New Jersey. The bankruptcy filing from the company comes as it plans to use the period to undergo a restructuring.

RAD Stock Sinks as Rite Aid Files for Ch. 11 Bankruptcy

Rite Aid (NYSE: RAD ) filed for bankruptcy, leading to speculation that RAD stock could become a “meme stock” like Yellow or Bed Bath & Beyond. YELL and BBBY (and subsequent OTC traded YELLQ and BBBYQ, respectively) saw brief short squeezes after they filed for bankruptcy earlier this year.

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When rumors started to fly regarding Walgreens' purchase of Rite Aid Corp. (NYSE: RAD) in the summer of 2015, Rite Aid's stock soared to an all-time high of almost $190.

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Retailer with more than 2,000 stores in 17 states was hit by lawsuits alleging pharmacies contributed to oversupply of opioids

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Major U.S. pharmacy chain Rite Aid says it has obtained $3.45 billion in fresh financing as it carries out a restructuring plan.

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McKesson Corp. MCK, +0.73% disclosed Monday that it doesn't expect drugstore chain Rite Aid Corp.'s RAD, -16.81% bankruptcy announced over the weekend to have a material impact on its adjusted earnings outlook for fiscal 2024. The health care supply and retail pharmacy company added that Rite Aid's bankruptcy isn't expected to have a material impact on its liquidity position or operations.

McKesson doesn't expect Rite Aid's bankruptcy to have much affect on profit outlook, liquidity

Drugstore chain Rite Aid filed for bankruptcy late Sunday, said it will close more of its stores and named a new CEO as part of a restructuring.

Rite Aid Files for Bankruptcy. It's All About Opioid Lawsuits.

US pharmacy chain Rite Aid (NYSE:RAD) filed for Chapter 11 bankruptcy over the weekend to add to the growing corporate casualty list stemming from the opioid dependency crisis. In a statement, Rite Aid said it has agreed to a restructuring with creditors plus US$3.45 billion of new loans to implement its plans.

US pharmacy chain Rite Aid files for Chapter 11

The pharmacy retail giant has been struggling with a slump in sales and a growing number of lawsuits for its alleged role in fanning the opioid crisis.

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Rite Aid filed for Chapter 11 bankruptcy and appointed Jeffrey Stein as its new CEO and CRO as part of a major financial restructuring effort.

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Rite Aid filed for Chapter 11 bankruptcy protection Sunday with plans to close more "underperforming stores."

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Drugstore chain Rite Aid filed for bankruptcy as it faces a mounting debt pile, slowing sales and lawsuits alleging it oversupplied painkillers.

Rite Aid files for bankruptcy amid slowing sales, opioid litigation

PHILADELPHIA--(BUSINESS WIRE)--Rite Aid Corporation (NYSE: RAD) (“Rite Aid” or the “Company”) today announced it has reached an agreement in principle with certain of its senior secured noteholders on the terms of a financial restructuring plan that will allow the Company to accelerate its ongoing business transformation. Implementing the contemplated restructuring plan will significantly reduce the Company's debt, increase its financial flexibility and enable it to execute on key initiatives.

Rite Aid Takes Steps to Accelerate Transformation and Position Company for Long-Term Success

PHILADELPHIA--(BUSINESS WIRE)--Rite Aid Corporation (NYSE: RAD) (“Rite Aid” or the “Company”) today announced that its Board of Directors has appointed Jeffrey S. Stein as Chief Executive Officer (CEO), Chief Restructuring Officer (CRO) and a member of the Board of Directors, effective immediately. Mr. Stein succeeds Elizabeth (“Busy”) Burr, who has served as Interim CEO of Rite Aid since January 2023. Ms. Burr will continue to serve on the Company's Board. Mr. Stein brings more than three deca.

Rite Aid Corporation Appoints Jeffrey S. Stein Chief Executive Officer

Drugstore chain Rite Aid Corp. has filed for bankruptcy, the Wall Street Journal reported Sunday night.

News for Rite Aid Stock (RAD)