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Rite Aid's Business Segments
Rite Aid's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Reportable Segments
3
Largest Segment
Retail Pharmacy
Total Revenue
$ 24,092
Regions Reported
-
Annual Results
Revenue Share by Reportable Segment - FY2023
- Retail Pharmacy73.8%
- Pharmacy Services27.1%
- Front End Sales21.1%
Revenue by Reportable Segment - FY2023
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Retail Pharmacy | $ 17,785 | 73.8% |
| Pharmacy Services | $ 6,522 | 27.1% |
| Front End Sales | $ 5,079 | 21.1% |
Revenue by Product & Service Category - FY2023
- Pharmacy Sales52.2%
- Front End Sales21.1%
Revenue by Product & Service Category - FY2023
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Pharmacy Sales | $ 12,583 | 52.2% |
| Front End Sales | $ 5,079 | 21.1% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
Description of Rite Aid
Rite Aid Corporation is a drugstore chain that provides health, wellness, and pharmacy services. The company operates over 2,500 stores in 19 states, primarily on the East Coast of the United States. The company's headquarters are located in Camp Hill, Pennsylvania.
Rite Aid offers a variety of products, including prescription medications, over-the-counter medicines, beauty and personal care items, convenience items, and food and beverage products. The company operates multiple pharmacy benefit management (PBM) programs that connect health plans, employers, and government agencies with the members they service.
Rite Aid's history dates back to 1962 when Alex Grass opened his first store in Scranton, PA. Over the years, the company has grown through mergers and acquisitions, including the purchase of Eckerd Pharmacy in 2007, which expanded Rite Aid's presence in the Southeast United States.
In 2020, Rite Aid launched a new strategy to focus on its core business of retail pharmacy operations, and divest non-core businesses. The company sold its EnvisionRx PBM business to private equity firm TPG Capital and closed 60 underperforming stores. This strategy saw Rite Aid rebranded as a health and wellness destination by partnering with insurance companies and investing in telehealth services.
The company has also adopted a digital transformation strategy, allowing customers to fill prescriptions, order products, and access other services online. Rite Aid's digital strategy includes mobile apps and digital tools, which offer a more personalized shopping experience for customers.
One of the company's key strategies for growth is offering COVID-19 testing and vaccinations. Rite Aid has administered over 4 million COVID-19 tests and 4 million vaccines at its stores, making the company a key partner in the fight against the coronavirus pandemic.
Overall, Rite Aid is a leading drugstore chain, providing affordable and convenient access to a wide range of products and services. The company's strategic focus on retail pharmacy operations, digital transformation, and offering COVID-19 testing and vaccinations, positions it for continued growth and relevance in the healthcare industry.
Rite Aid offers a variety of products, including prescription medications, over-the-counter medicines, beauty and personal care items, convenience items, and food and beverage products. The company operates multiple pharmacy benefit management (PBM) programs that connect health plans, employers, and government agencies with the members they service.
Rite Aid's history dates back to 1962 when Alex Grass opened his first store in Scranton, PA. Over the years, the company has grown through mergers and acquisitions, including the purchase of Eckerd Pharmacy in 2007, which expanded Rite Aid's presence in the Southeast United States.
In 2020, Rite Aid launched a new strategy to focus on its core business of retail pharmacy operations, and divest non-core businesses. The company sold its EnvisionRx PBM business to private equity firm TPG Capital and closed 60 underperforming stores. This strategy saw Rite Aid rebranded as a health and wellness destination by partnering with insurance companies and investing in telehealth services.
The company has also adopted a digital transformation strategy, allowing customers to fill prescriptions, order products, and access other services online. Rite Aid's digital strategy includes mobile apps and digital tools, which offer a more personalized shopping experience for customers.
One of the company's key strategies for growth is offering COVID-19 testing and vaccinations. Rite Aid has administered over 4 million COVID-19 tests and 4 million vaccines at its stores, making the company a key partner in the fight against the coronavirus pandemic.
Overall, Rite Aid is a leading drugstore chain, providing affordable and convenient access to a wide range of products and services. The company's strategic focus on retail pharmacy operations, digital transformation, and offering COVID-19 testing and vaccinations, positions it for continued growth and relevance in the healthcare industry.
Segments:
Rite Aid is a retail drugstore chain that operates in two main segments:
1. Retail Pharmacy Segment: This segment operates the company's drugstores that offer prescription drugs, over-the-counter medications, health and wellness products, and personal care products. It also manages Rite Aid's retail clinic stores, which provide basic healthcare services, including flu shots and health screenings. This segment contributes the majority of Rite Aid's revenue.
2. Pharmacy Services Segment: This segment operates Rite Aid's pharmacy benefit management business. It provides pharmacy benefit management services, as well as mail-order pharmacy and specialty pharmacy services to both commercial and government healthcare programs.
Products and Services:
Rite Aid offers a wide range of products and services to its customers:
1. Prescription Drugs: Rite Aid's retail pharmacy segment provides prescription medications to customers. It also offers medication counseling services, medication therapy management, and clinical services to optimize medication use.
2. Over-The-Counter Medications: Rite Aid offers a variety of over-the-counter medications, such as pain relievers, cough and cold remedies, and vitamins.
3. Health and Wellness Products: Rite Aid's retail stores also sell a range of health and wellness products, including vitamins, supplements, home health care products, and medical devices.
4. Personal Care Products: Rite Aid offers a range of personal care products, including beauty and skincare products, oral care products, and hygiene products.
5. Retail Clinics: Rite Aid operates retail clinics that offer basic healthcare services, including flu shots, health screenings, and treatments for minor illnesses.
6. Pharmacy Benefit Management Services: Rite Aid's pharmacy services segment provides pharmacy benefit management services to customers, including drug utilization review, formulary management, and claims processing.
Mail-Order Pharmacy Services: Rite Aid's pharmacy services segment also operates a mail-order pharmacy that provides prescription medications to customers via mail delivery.
8. Specialty Pharmacy Services: Rite Aid's pharmacy services segment also provides specialty pharmacy services, which include medication therapy management, disease management programs, and coordination of care for patients with complex medical conditions.
Overall, Rite Aid's product and service offerings aim to provide convenient and affordable healthcare solutions to its customers.
Rite Aid is a retail drugstore chain that operates in two main segments:
1. Retail Pharmacy Segment: This segment operates the company's drugstores that offer prescription drugs, over-the-counter medications, health and wellness products, and personal care products. It also manages Rite Aid's retail clinic stores, which provide basic healthcare services, including flu shots and health screenings. This segment contributes the majority of Rite Aid's revenue.
2. Pharmacy Services Segment: This segment operates Rite Aid's pharmacy benefit management business. It provides pharmacy benefit management services, as well as mail-order pharmacy and specialty pharmacy services to both commercial and government healthcare programs.
Products and Services:
Rite Aid offers a wide range of products and services to its customers:
1. Prescription Drugs: Rite Aid's retail pharmacy segment provides prescription medications to customers. It also offers medication counseling services, medication therapy management, and clinical services to optimize medication use.
2. Over-The-Counter Medications: Rite Aid offers a variety of over-the-counter medications, such as pain relievers, cough and cold remedies, and vitamins.
3. Health and Wellness Products: Rite Aid's retail stores also sell a range of health and wellness products, including vitamins, supplements, home health care products, and medical devices.
4. Personal Care Products: Rite Aid offers a range of personal care products, including beauty and skincare products, oral care products, and hygiene products.
5. Retail Clinics: Rite Aid operates retail clinics that offer basic healthcare services, including flu shots, health screenings, and treatments for minor illnesses.
6. Pharmacy Benefit Management Services: Rite Aid's pharmacy services segment provides pharmacy benefit management services to customers, including drug utilization review, formulary management, and claims processing.
Mail-Order Pharmacy Services: Rite Aid's pharmacy services segment also operates a mail-order pharmacy that provides prescription medications to customers via mail delivery.
8. Specialty Pharmacy Services: Rite Aid's pharmacy services segment also provides specialty pharmacy services, which include medication therapy management, disease management programs, and coordination of care for patients with complex medical conditions.
Overall, Rite Aid's product and service offerings aim to provide convenient and affordable healthcare solutions to its customers.