CAMP HILL, Pa. — Rite Aid Corp.’s flagging stock price notwithstanding, the chain has “great opportunities for growth,” chief executive officer John Standley said this month at the annual JP Morgan Healthcare Conference. Standley spoke less than a week after the New York Stock Exchange notified the retailer that it was no longer in compliance
CAMP HILL, Pa. — Rite Aid Corp. today reported operating results for its third fiscal quarter ended December 1. For the third quarter, the company reported net loss from continuing operations of $17.3 million, or $0.02 per share, Adjusted net income from continuing operations of $14.7 million, or $0.01 per share, and Adjusted EBITDA from
CAMP HILL, Pa. – Rite Aid Corp. and McKesson Corp. announced an agreement to key terms that will continue the companies’ pharmaceutical sourcing and distribution partnership for an additional 10 years. Under these terms, McKesson will continue providing Rite Aid with sourcing and direct-to-store delivery for brand and generic pharmaceutical products through March 2029. Rite
CAMP HILL, Pa. — Rite Aid Corp. has changed its corporate governance and recast its board. The company separated the chairman and chief executive officer functions, with director Bruce Bodaken becoming chairman and John Standley remaining CEO. That move, along with the naming of three new independent board members, followed the chain’s failed merger with
CAMP HILL, Pa. – Rite Aid Corp. on Thursday posted second-quarter earnings that were in line with Wall Street’s expectations. The company also named three new board members and announced it was dividing the chairman and chief executive officer position. Director Bruce Bodaken will become chairman while John Standley remains CEO. The moves follow the
CAMP HILL, Pa. – Rite Aid Corp. announced that it has mutually agreed with Albertsons Cos. to terminate their previously announced merger agreement. “While we believed in the merits of the combination with Albertsons, we have heard the views expressed by our stockholders and are committed to moving forward and executing our strategic plan as
CAMP HILL, Pa. — Ahead of the August 9 shareholders vote on the proposed merger with Albertsons, Rite Aid Corp. reported operating results for its first fiscal quarter ended June 2, 2018. For the first quarter, the company reported net loss from continuing operations of $41.7 million, or $0.04 per share, Adjusted net loss from
CAMP HILL, Pa. — Rite Aid Corp. on Thursday reported net income of $767.1 million, or 73 cents per diluted share, for the fourth quarter ended March 3. The company showed a net loss from continuing operations of $483.7 million, or 46 cents per diluted share, for the quarter. Adjusted net loss from continuing operations
CAMP HILL, Pa. — The merger of Albertsons Cos. and Rite Aid Corp. will create a “truly differentiated” player in the food, health and wellness space, John Standley, chairman and chief executive officer of Rite Aid, said when the deal was announced late last month. The proposed merger will transform Rite Aid through the addition
CAMP HILL, Pa. — Rite Aid Corp. is winding down its asset sale to Walgreens Boots Alliance (WBA) with the ownership transfer of 537 more stores. Rite Aid said Tuesday that as of March 2, it has transferred 1,651 stores and related assets to WBA for cash proceeds of $3.6 billion. The process has progressed
NEW YORK — The U.S. health care industry has been in flux for a number of years, but the pace of transformation now appears to be accelerating rapidly. Several of the biggest players in the U.S. health care sector are making moves to confront an uncertain future — one that may bring unwelcome competition and
CAMP HILL, Pa. — The Albertsons Cos. merger with Rite Aid Corp. will create a “truly differentiated” player in the food, health and wellness space, John Standley, chairman and chief executive officer of Rite Aid, said in an interview with Chain Drug Review. The Albertsons-Rite Aid merger deal, announced Tuesday, will transform Rite Aid through
BOISE, Idaho, and CAMP HILL, Pa. — Albertsons Cos. plans to merge with Rite Aid Corp. in a deal that will take the supermarket retailer public. Albertsons Cos. and Rite Aid said Tuesday that the combined company will generate pro forma revenue of about $83 billion and operate about 4,900 stores, 4,350 pharmacy locations and
CAMP HILL, Pa. — Rite Aid Corp. is making changes to its category management team as it proceeds with an asset sale in which more than 40% of its drug stores will be transferred to Walgreens Boots Alliance (WBA). The Rite Aid category management staff changes are under way, a company spokeswoman confirmed but declined