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Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. [1] 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 nearly 1,300 stores in 16 U.S. states, primarily on the East and West coasts.
During her time at Rite Aid, Donigan closed more than 150 unprofitable stores. [12] Donigan was credited with avoiding the bankruptcy for Rite Aid by pushing debt payments due in 2022 to 2025; however, Deutsche Bank warned the company was in danger of a "dramatic negative inflection point" in April 2022. Other analysts were less skeptical of ...
He held the post of CEO of Rite Aid until 2003 and chairman until June 2007, and was a director until 2011. [3] Miller is a director of Fred Meyer. [4] He formerly served on the boards of Rite Aid, Harrah's Entertainment, Wild Oats Markets and Caesars Entertainment Corporation. [4]
Rite Aid has posted annual losses for several years in part due to slumping sales. It also faced controversy regarding opioid-related lawsuits . Since 2021, it has moved down 39 spots in the ...
NEW YORK (Reuters) -A U.S. bankruptcy judge on Friday approved Rite Aid's restructuring plan, allowing the pharmacy chain to cut its debt by $2 billion and turn over control to a group of lenders.
Rite Aid's adjusted operating profits from its retail pharmacy in the third quarter rose to $125.9 million from $88.6 million a year ago. Adjusted operating profits are up 6% year-to-date through ...
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