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Rite Aid

Fred’s tabs Alden’s Freeman for board; Bodine resigns

Fred’s tabs Alden’s Freeman for board; Bodine resigns

MEMPHIS, Tenn. — Later this month, Alden Global Capital LLC president and founding member Heath Freeman is slated to join the board of directors at Fred’s Inc. Fred’s also said Monday that retail pharmacy veteran Christopher Bodine resigned from the board as of Aug. 11. Bodine, a longtime CVS executive, had joined Fred’s board in

What the new WBA-Rite Aid deal means

What the new WBA-Rite Aid deal means

NEW YORK — With the acquisition of Rite Aid Corp. by Walgreens Boots Alliance Inc. (WBA) now canceled and replaced by a smaller transaction, the chain drug landscape will retain a more familiar look. Nonetheless, all three parties to the original deal, which involved the purchase of 865 Rite Aid locations by Fred’s Inc., will

Rite Aid looks ahead to stronger store base

Rite Aid looks ahead to stronger store base

CAMP HILL, Pa. — Rite Aid Corp. has provided a more detailed picture of its store base after the expected closing of its deal to sell nearly half its stores to Walgreens Boots Alliance (WBA). In a filing with the Securities and Exchange Commission, Rite Aid said it would have 2,336 stores following the sale

Rite Aid’s health care assets offer options

Rite Aid’s health care assets offer options

Investments made in recent years put Rite Aid in a better position to rebound from the terminated deal to be acquired by Walgreens Boots Alliance. Rite Aid’s acquisitions of retail clinic operator RediClinic, health care management specialist Health Dialog and pharmacy benefit manager EnvisionRx give it more options as its leadership considers the company’s future

Allpoint rolls out ATMs to Rite Aid stores

Allpoint rolls out ATMs to Rite Aid stores

HOUSTON — Surcharge-free ATM network Allpoint has expanded its retail footprint to select Rite Aid stores in the Northeast, Mid-Atlantic and Midwest. Allpoint said it now has ATMs in more than 3,000 Rite Aid stores, mainly in the following states: Connecticut, Delaware, Maryland, Massachusetts, Maine, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode

Sales decline in June at Fred’s Pharmacy

Sales decline in June at Fred’s Pharmacy

MEMPHIS, Tenn. — Fred’s Pharmacy reported decreased revenue and same-store sales for June but noted positive results in its pharmacy business. Fred’s said Thursday that for the five weeks ended July 1, sales totaled $197.5 million, down 5.3% from $208.5 million a year earlier. The company attributed the decline the closing of 39 underperforming stores

Walgreens Boots Alliance sees solid 3Q results

Walgreens Boots Alliance sees solid 3Q results

DEERFIELD, Ill. — Analysts said Walgreens Boots Alliance turned in a solid third quarter and stands to emerge on a positive note from its new deal with Rite Aid Corp. upon the termination of their merger. For the third quarter ended May 31, WBA posted net earnings (GAAP) of $1.16 billion, or $1.07 per diluted

Rite Aid revamps Harrisburg urban store

Rite Aid revamps Harrisburg urban store

CAMP HILL, Pa. — Rite Aid Corp. last month celebrated the grand reopening of its 14,000-square-foot Market Street store inside Strawberry Square, a 1 million-square-foot, mixed-use complex in the heart of downtown Harrisburg, Pa. Mayor Eric Papenfuse joined Rite Aid executive vice president of store operations Bryan Everett and other company and community officials at

WBA strikes new deal with Rite Aid

WBA strikes new deal with Rite Aid

DEERFIELD, Ill. — The long, drawn-out quest of Walgreens Boots Alliance Inc. (WBA) to acquire Rite Aid Corp. took another unexpected turn this morning when the two companies announced a new agreement under which WBA will purchase 2,186 stores, three distribution centers and related inventory from Rite Aid. The price will be $5.175 billion in

Rite Aid reopens Harrisburg Market Street store

Rite Aid reopens Harrisburg Market Street store

CAMP HILL, Pa. — Rite Aid Corp. is officially reopening its relocated Harrisburg Market Street store, now remodeled to the drug chain’s Wellness Store format. On Tuesday morning, Rite Aid plans a grand reopening ceremony for the 14,000-square-foot store, now situated at 304 Market Street inside Strawberry Square, a 1 million-square-foot, mixed-use center in the

Fred’s boosts funding for Rite Aid store purchase

Fred’s boosts funding for Rite Aid store purchase

MEMPHIS, Tenn. — Fred’s Pharmacy has procured $550 million in additional funding for its deal to buy up to 1,200 Rite Aid stores in connection with the Walgreens-Rite Aid merger. In an 8-K filing with the Securities and Exchange Commission yesterday, Fred’s said that for a second time it has amended and restated a commitment

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