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16 Facts About Rite Aid
Rite Aid ranked No 148 in the Fortune 500 list of the largest United States corporations by total revenue.
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Rite Aid began in 1962, opening its first store in Scranton, Pennsylvania; it was called Thrift D Discount Center.
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Rite Aid is publicly traded on the New York Stock Exchange under the symbol RAD.
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In 1981, Rite Aid became the third-largest retail drugstore chain in the country.
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Rite Aid acquired twenty-four Hook's Drug Stores stores in 1994, selling nine of those stores to Perry Drug Stores, a Michigan-based pharmacy chain.
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One year later, Rite Aid acquired 224 stores from Perry, thus expanding its presence in Michigan even further.
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Rite Aid announced that the two chains would be converted to the Rite Aid name, retiring the 109-year-old Eckerd banner.
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In 2015, Rite Aid purchased EnvisionRx, a pharmacy benefit manager, which owns subsidiary PBMs MedTrak, Connect Health Solutions, and Smith Premier Services.
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General Nutrition Corporation and Rite Aid formed a partnership in January 1999, bringing GNC mini-stores within the Rite Aid pharmacies.
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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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Rite Aid had a major accounting scandal that led to the departure of several top ranking executives, including CEO Martin Grass.
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Rite Aid said that the selection of locations was "data-driven", based on the theft histories of individual stores, local and national crime data, and site infrastructure.
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Rite Aid said Las Vegas was a non-core market that had not been contributing to overall results, and it had not opened a new store there since 1999.
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Rite Aid formerly had a presence in the Columbus, Ohio market, but has since sold off its stores there to CVS.
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In October 2020, Rite Aid announced the acquisition of the privately held Bartell Drugs, a 67-location Seattle-area chain, for $95 million.
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