September 12, 1962; 61 years ago (1962-09-12) In Scranton, Pennsylvania, United States
Founder
Alex Grass
Headquarters
Philadelphia, Pennsylvania, United States[1]
Number of locations
2,271 (2023)[2]
Key people
Jeffrey Stein, chief restructuring officer and CEO[3][4]
Matt Schroeder, CFO
Products
Pharmacy, grocery store, liquor store
Revenue
US$24.04 billion(FY2021)[5]
Operating income
US$47.14 million(FY2021)[5]
Net income
US$−90.9 million (FY2021)[5]
Total assets
US$9.335 billion(FY2021)[6]
Total equity
US$615.2 million(FY2021)[6]
Number of employees
50,000 (2021)[7]
Subsidiaries
Bartell Drugs[8][9]
Website
www.riteaid.com
Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania.[10] It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. It is the third-largest drugstore chain in the United States, with over 2,000 stores, and ranked No. 148 in the Fortune 500 in 2022.[11]
After several years of growth, Rite Aid adopted its current name and debuted as a public company in 1968. Rite Aid was publicly traded on the New York Stock Exchange under the symbol RAD. In October 2023, the company filed for Chapter 11 bankruptcy, due to a large debt load and thousands of lawsuits alleging involvement in the opioid crisis.[12]
^"Rite Aid Opens New Modern Headquarters in Philadelphia's Navy Yard". Retrieved July 13, 2022.
^"Number of Rite Aid locations in the United States in 2023". rentechdigital.com.
^"Management Team".
^"Rite Aid files for Chapter 11 bankruptcy, names new CEO". October 16, 2023.
^ abc"Rite Aid". Yahoo Finance. Retrieved October 28, 2021.
^ ab"Rite Aid". Yahoo Finance. Retrieved October 28, 2021.
^"Rite Aid | 2021 Fortune 500". fortune.com. Retrieved October 28, 2021.
^"RITE AID TO ACQUIRE BARTELL DRUGS |". Bartell Drugs.
^"Bartell Drugs, a local, family-owned business for 130 years, to be sold to Rite Aid for $95 million". The Seattle Times. October 7, 2020.
^"Rite Aid Opens New Modern Headquarters in Philadelphia's Navy Yard". Retrieved July 13, 2022.
^"Fortune 500 Companies". Fortune. Retrieved July 30, 2022.
^Holman, Jordyn; Hirsch, Lauren (October 16, 2023). "Rite Aid, Facing Slumping Sales and Opioid Suits, Files for Bankruptcy". The New York Times. ISSN 0362-4331. Retrieved October 16, 2023.
RiteAid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass...
the remainder acquired by Jean Coutu Group. Jean Coutu sold the chain to RiteAid in 2007, and its name was phased out soon thereafter. Eckerd was founded...
acquired by RiteAid in 2004) K&B (Acquired by RiteAid in 1997) Kerr Drug (acquired by Walgreens in 2013) Lane Drug (purchased by RiteAid in 1989) LaVerdiere's...
with nearly 2,200 drug stores. Its American stores have been sold to RiteAid. The company is also known for its private line "Personnelle", which produces...
Lehrman is the former president of RiteAid Corporation, a writer, businessman and an economic historian. RiteAid Corporation was an outgrowth of a family...
half of RiteAid locations. On September 19, 2017, the Federal Trade Commission approved a fourth deal agreement to purchase 1,932 RiteAid stores for...
2009) was an American businessman, lawyer, and philanthropist who founded RiteAid, one of the United States' largest drugstore chains. Grass was born in...
stores, was the largest acquisition ever made by RiteAid. In addition, this acquisition brought the RiteAid name to the Detroit area for the first time....
1996, RiteAid acquired 1,000 West Coast stores from Thrifty PayLess Holdings, creating a chain with over 3,500 drug stores. In 2023, RiteAid filed for...
quota of a number of customers in the program each week. Walgreens and RiteAid also offer rewards for filling prescriptions, although they do not require...
Although as a result of the acquisition, RiteAid now accepts J. C. Penney credit cards, even at RiteAid locations that existed before the acquisition...
drug to RiteAid, effective April 11, 1989. The last phase was the Indiana division of Peoples being sold in 1989 to a group of former RiteAid officials...
agreement with RiteAid to be bought out. The Federal Trade Commission (FTC) announced that it would sue to stop the buyout, saying that RiteAid would become...
announced plans to acquire RiteAid, subject to shareholder and regulatory approval. In addition to retaining the stand-alone RiteAid pharmacies, its Osco...
nation's oldest existing family-owned drugstore chain until it was sold to RiteAid in 2020. Bartell Drugs was founded in 1890 when George H. Bartell Sr. (1868–1956)...
Trade Commission (FTC) approved Walgreens' fourth attempt to purchase RiteAid, with 1,932 stores, for $4.38 billion. In February 2020, Walgreens announced...
products are available at nearly 100,000 retail stores including CVS, RiteAid, Walgreens, Dollar Tree; as well as discounted offerings at Meijer and...
rebranded as RiteAid in 2006. In 2023, RiteAid filed for Chapter 11 bankruptcy. Despite Genovese Drug Stores shutting down 20 years prior to RiteAid's bankruptcy...
corporate headquarters were located in Warwick, Rhode Island; was acquired by RiteAid in 2007 Cunningham Drug Stores – Metro Detroit, Michigan area; founded...
Rite-Aid subsequently disabled all NFC payment systems in favor of CurrentC, although due to the exclusivity period ending in August 2015, RiteAid started...
Reuters news agency reported that during the 2010s the pharmacy chain RiteAid had deployed facial recognition video surveillance systems and components...
October 15, 2023, RiteAid officially filed for Chapter 11 bankruptcy, announcing plans to close nearly 100 stores. In late 2023, RiteAid announced the closure...
affected by COVID-19. In May 2020, Instacart began a partnership with RiteAid, offering its service across 2,400 locations in 18 states. In August 2020...
stores would be sold to RiteAid. The remaining two Michigan stores were sold in separate transactions. Industry experts said RiteAid would likely keep the...
Global Information
US$24.04 billion (FY2021)[5]
US$47.14 million (FY2021)[5]