It turns out the store is closing because of all the shoplifting: ‘These criminals know there are no ramifications. We have to put more of these mfers in jail,’ he said. The Rite Aid in the video, on 80th Street and 2nd Avenue, is hit with thefts of the same nature on an almost daily basis, a security guard told Rapaport.
Why is rite aid closing so many stores?
Rite Aid is probably pretty close, too. “There’s too many pharmacies in the country and there’s too much pharmacy capacity. That gives CVS a reason to go,” said Hill. CVS closed 244 stores between 2018 and 2020, yet it still has more than 9,900 stores. That’s more than Walmart, Target Kroger and Costco — combined.
Why did Rite Aid close 63 stores?
Rite Aid said its goal is to reduce costs, boost profitability and have a “healthy foundation.” The company said the 63 closures, which began last month, are expected to boost its earnings before interest, taxes, depreciation and amortization by roughly $25 million.
Drugstore chain Rite Aid said Tuesday it plans to shutter at least 63 stores as it reassesses how many locations it needs in the United States.
NC 54, Durham, NC. The pharmacy will be closing July 23., and more items.
600 Rite Aid stores will close as part of the acquisition. After Rite Aid announced the sale of more than 1,900 stores to Walgreens last year, about two-thirds of local Rite Aid stores listed on the chain’s website appear to be slated for full store rebranding by 2020.
Why is Rite Aid remodeling its stores?
Rite Aid (RAD), which is significantly smaller number than rivals CVS (CVS) or Walgreens (WBA), has been in the midst of remodeling some of its stores to focus on allocating more space for beauty and personal care items, as well as vitamins and supplements, and less for stationary and household appliances.
Many Rite Aid pharmacy counters transitioned to the Walgreens chain earlier this year. Customers were shifted to the Walgreens prescription insurance network and the Walgreens website/mobile app. Pharmacy staff were expected to remain the same, according to the Walgreens website.
On Tuesday, Rite Aid posted mixed financial results for the fiscal third quarter. Although it earned more than expected on an adjusted basis, its sales for the three months ended Nov. 27 came in lower than analysts projected. The retailer also cut its outlook for sales for the fiscal year.
One more question we ran across in our research was “Is Rite Aid rebranding in 2020?”.
After Rite Aid announced the sale of more than 1,900 stores to Walgreens last year, about two-thirds of local Rite Aid stores listed on the chain’s website appear to be slated for full store rebranding by 2020.
How many CVS stores will close in the next 3 years?
Last month, drugstore rival CVS Health said it will close roughly 900 stores over the next three years, as it adjusts to shoppers who are buying more online.