50th St. in Manhattan is closing in February 2022.
There are 2,440 Rite Aid locations in the United States as of June 06, 2021. The state with the most number of Rite Aid locations in the US is California, with 532 locations, which is 21% of all Rite Aid locations in America. Due to COVID-19, some of the locations may be temporarily closed .
Rite Aid said it plans to close 63 stores over the next several months they say will help cut costs and “drive improved profitability .” The closures were confirmed during the pharmacy chain’s third-quarter earnings call on Tuesday by CEO Heyward Donigan.
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.
A common inquiry we ran across in our research was “Why is Rite Aid remodeling its stores?”.
This is what my research found. 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.
A common query we ran across in our research was “What happened to Rite Aid’s sales in Q3?”.
Well, 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.
Is Rite Aid now Walgreens?
Displays in a Rite Aid store in Rose Hill, Fairfax County, Virginia in September 2018. This location was converted into a Walgreens. On October 27, 2015, Walgreens announced that it would acquire Rite Aid for $9.4 billion , pending regulatory and shareholder approval.
Alex Grass founded the Rite Aid chain in Scranton, Pennsylvania in September 1962, after marrying into Harrisburg Pennsylvania’s Lehrman family in the early 1950s.
How many Rite Aid stores are in the US?
Rite Aid has approximately 2,500 stores across 19 states, so the closures amounts to just 2% of its retail footprint. Rite Aid’s store closure follows CVS Health’s recent announcement of the shuttering of 900 stores over the next three years.
The state with the most number of Rite Aid locations in the US is California, with 525 locations, which is 21% of all Rite Aid locations in America. Due to COVID-19, some of the locations may be temporarily closed.