PHILADELPHIA — Rite Aid unveiled its new headquarters in Philadelphia’s thriving Navy Yard district on Wednesday. The Rite Aid Collaboration Center, located on the second floor of 1200 Intrepid Avenue, will bring Rite Aid’s remote corporate workforce and associates together in a modern space with state-of-the-art amenities. The new headquarters, with its accessibility to major
PHILADELPHIA — Rite Aid Thursday reported fourth quarter revenue that topped Wall Street’s forecast. The company posted revenue of $6.065 billion for the period ended February 26, up 2.5 percent from $5.917 billion in the year-ago quarter and far greater than the FactSet consensus of $5.470 billion. The gain was driven by retail segment growth,
PHILADELPHIA — At the time of Heyward Donigan’s appointment as chief executive officer, Rite Aid was beset by uncertainties. In the wake of two failed merger attempts — first with Walgreens Boots Alliance, then Albertsons Cos. — and the subsequent sale of 1,942 drug stores to WBA, the company was saddled with a heavy debt
PHILADELPHIA — Beginning Monday, people with Medicare Part B can visit any Rite Aid location and receive up to eight over-the-counter COVID-19 tests every month at no cost. As part of the Medicare COVID-19 Over-the-Counter Test Initiative, people covered by Medicare Part B can bring their red, white, and blue Medicare card to any Rite
PHILADELPHIA — Rite Aid Corp. announced on Tuesday steps to realign its management team and streamline the company’s operations, including the elimination of the Rite Aid chief operating officer (COO) position and consolidation of its pharmacy leadership. As a result, Jim Peters, COO, and Jocelyn Konrad, executive vice president and chief pharmacy officer, have left
CAMP HILL, Pa. – Rite Aid Corp. posted adjusted earnings of $8.2 million or 15 cents per share for the third quarter, surprising analysts who had forecast an 18 cents per share loss. The company reported a net loss of $36.1 million, or 67 cents per share, for the quarter ended November 27. Adjusted EBITDA
CAMP HILL, Pa. — Rite Aid Corp. on Thursday reported a narrower than expected second quarter loss. The company reported a net loss of $100.3 million, or $1.86 per share for the period ended August 28. The adjusted net loss was $22 million, or 41 cents per share. Analysts had forecast an adjusted net loss
PHILADELPHIA — Rite Aid has announced its corporate workplace of the future – a remote-first work approach for corporate associates, supported by a network of collaboration centers throughout the company’s geographic footprint. The reimagined workplace model focuses on flexibility for associates, while also creating an official headquarters space in Philadelphia designed specifically for in-person collaboration
CAMP HILL, Pa. — Rite Aid Corp. posted results for the first quarter of fiscal 2022 that fell short of some analysts’ projections although the company’s Retail Pharmacy Segment achieved robust sales and profit growth. The reported net loss from continuing operations for the 13 weeks ended May 29 fell to $13.1 million, or 24
CAMP HILL, Pa. — Rite Aid announced on Monday that Andre Persaud has been named chief retail officer. Persaud was appointed executive vice president, retail for Rite Aid in February 2020 and assumed responsibility for orchestrating new in-store experiences and retail operations processes in line with the company’s RxEvolution strategy. “Andre has not only proven
CAMP HILL, Pa. — When Heyward Donigan was chosen to lead Rite Aid Corp. in the summer of 2019, she was tasked with restoring an iconic brand that had lost some of its luster. After devoting the first months on the job to shoring up the company’s finances — which still suffer from a large
CAMP Hill, Pa. — Rite Aid Corp. announced today that Heyward Donigan, president and chief executive officer; Jim Peters, chief operating officer and Matt Schroeder, executive vice president and chief financial officer will participate in a fireside chat with investors at the on Monday, Jan. 11th at approximately 11:40 a.m. ET. The conference is a virtual
CAMP HILL, Pa. — As part of its ongoing efforts to closely manage and reduce costs, Rite Aid Corp. has eliminated 254 corporate office positions across its retail pharmacy and pharmacy services segments, the company reported in the release of its first quarter earnings. Rite Aid has also taken steps to reduce other expenses, such
CAMP HILL, Pa. — As part of its ongoing efforts to closely manage and reduce costs, Rite Aid has eliminated 254 corporate office positions across its retail pharmacy and pharmacy services segments, the company reported today in the release of its earnings report for the first quarter. Rite Aid has also taken steps to reduce other
