| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
55 |
| Employees |
50,000 |
| Revenues (TTM) (Millions $) |
23,475 |
| Net Income (TTM) (Millions $) |
-1,594 |
| Cash Flow (TTM) (Millions $) |
46 |
| Capital Exp. (TTM) (Millions $) |
202 |
Business Description
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.
Company Address: PO Box 3165 Harrisburg 17105 PA
Company Phone Number: 761-2633 Stock Exchange / Ticker: RAD
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4.61% 