53 Facts About Rite Aid

1. Rite Aid maintains an active commitment to maintaining workplace diversity.

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2. Rite Aid failed to convey a complete standalone strategy beyond Bonus Cash and increasing Pharmacy prescription count.

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3. Rite Aid wasted $14 million on a scrapped point of sale software update.

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4. Rite Aid wasted millions by not executing the transition of Pharmacy distribution effectively.

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5. Rite Aid wasted $34 million on the Albertsons merger agreement.

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6. In 1968 Rite Aid made its first public stock offering, issuing 350,000 shares at $25 per share on the American Stock Exchange, as well as formally changing its name to Rite Aid Corporation.

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7. Rite Aid shares have hovered around 95 cents a share in recent days.

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8. On February 5, 2009, Rite Aid announced that it would terminate operations of seven Rite Aid stores in San Francisco, along with five stores in eastern Idaho through a sale to Walgreens.

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9. Rite Aid has long been committed to helping our communities live well.

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10. On September 27, 2018, Rite Aid reported second quarter 2019 financial results.

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11. Rite Aid was forced to restate its earnings by $1.6 billion, which at the time was one of the largest restatements in US history.

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12. In 1999, Rite Aid began restating earnings from prior years due to accounting irregularities.

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13. In 2007, Rite Aid added over 1,500 stores with its acquisition of Brooks Eckerd Pharmacy, and in 2015, it acquired pharmacy benefits manager Envision Pharmaceutical Services for $2 billion.

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14. Rite Aid must have made pretty good offers for a lot of smaller pharmacies.

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15. Rite Aid often offers customers the chance to donate something from every purchase made.

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16. Rite Aid is a pretty charitable company, particularly to children.

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17. Rite Aid was founded in Scranton, Pennsylvania, by Alexander "Smoking" Grass, who wanted to start a drugstore chain like no other.

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18. Rite Aid is a drug store chain with operations in 37 states, the District of Columbia, California, four other planets, and your backyard.

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19. Rite Aid is the largest drug store chain on the East Coast and third largest in the country with more than 4,600 stores and more than 30 clinics in 31 states and the District of Columbia.

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20. On the local level, Rite Aid recognizes the vital role the company and its employees play "in enhancing the character of the community.

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21. Rite Aid has been a long-term sponsor of the Children's Miracle Network, a national organization that raises funds for more than 160 pediatric hospitals around the country.

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22. In the mid-1990s Rite Aid was exploring new ways to expand pharmaceutical sales.

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23. With the new technology in place, Rite Aid was able to produce daily reports on sales, profits, and changes in inventory.

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24. In the 1990s Rite Aid changed the way it used information.

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25. In 1997 Rite Aid paid an estimated $340 million to acquire two additional drug stores in the South.

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26. In the 1970s Rite Aid continued to grow through acquisitions and added two distribution centers, in Rome, New York and Nitro, West Virginia.

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27. Rite Aid operates Eagle Managed Care Corporation, a wholly owned subsidiary that markets prescription plans and sells other managed health care services to employers, HMOs, and government-sponsored employee benefit programs.

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28. Rite Aid installed new computer systems to handle buying and accounting for ADAP.

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29. Rite Aid added 100,000 square feet to its main distribution center in Shiremanstown, Pennsylvania.

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30. In 1996 Rite Aid continued to restructure its business to operate larger, higher volume, and more profitable drugstores.

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31. Rite Aid reportedly offered as much as $4 billion for the chain, which operated almost 2,800 stores, mostly in the East and South.

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32. Rite Aid now operated more than 3,600 stores, and revenues for 1998 reached $11.38 billion.

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33. In 1996 Rite Aid continued to restructure its business to operate larger, higher-volume, and more profitable drugstores.

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34. In 1991 Rite Aid added 68 stores and bought prescription records from 65 drugstores in Washington, DC.

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35. Rite Aid added 1,754 store computer systems, and it enhanced 2,279 pharmacy terminals.

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36. In 1987 Rite Aid was the largest employer in the retail drug industry.

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37. Rite Aid continued to install pharmacy and point-of-purchase automated systems throughout the chain.

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38. In 1985 Rite Aid focused less on acquisitions than on internally generated growth.

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39. In 1982 Rite Aid became the largest US drug chain as measured by the number of stores and market share in New York, Pennsylvania, New Jersey, Maryland, and West Virginia.

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40. In 1980 Rite Aid adopted some new tactics in its growth plan.

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41. Rite Aid acquired 11 stores from Red Shield in Pittsburgh and the four-store Quality Drugs chain of greater Philadelphia.

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42. Over the next year Rite Aid focused on internal organization and increased its security department in an effort to reduce shoplifting.

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43. In 1972 Rite Aid focused on internal efficiency in preparation for additional expansion.

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44. On January 20, 1970, Rite Aid was admitted to the New York Stock Exchange and began trading on the big board at $25 per share with 2.8 million shares outstanding.

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45. Rite Aid made its first acquisition when it bought the Philadelphia-centered 11-store Martin's chain.

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46. Rite Aid called off merger talks with grocery retailer Albertson in mid-2018, driven largely by shareholder disapproval and the objections of third-party advisory firms, including Glass Lewis and Institutional Shareholder Services.

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47. Rite Aid stores will be open in some locations starting at 7 am on Thanksgiving Day.

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48. On July 25, 2004, Rite Aid agreed to pay $7 million to settle allegations that the company had submitted false prescription claims to United States government health insurance programs.

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49. In July 2001, Rite Aid agreed to improve their pharmacy complaint process by implementing a new program to respond to consumer complaints.

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50. At the time, Rite Aid had just acquired Thrifty PayLess and was integrating the stores into the company.

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51. Rite Aid acquired twenty-four Hook's Drug stores from Revco in 1994, selling nine of those stores to Perry Drug Stores, a Michigan-based pharmacy chain.

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52. Rite Aid began in 1962, opening its first store in Scranton, Pennsylvania; it was called Thrift D Discount Center.

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53. Rite Aid is the largest drugstore chain on the East Coast and the third largest in the US.

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