Rite Aid said it has started the process of closing 63 stores in the U.S. That number is expected to grow. Rite Aid plans to close dozens of stores in the U.S. in an effort to save about $25 million per year. CNN reports Rite Aid has 2,500 stores in 19 states.
Is Rite Aid closing stores in 2022?
What is driving the downturn? Rite Aid will close at least 63 stores next year, the pharmacy chain announced in a financial report filed this month.
How many stores does Rite Aid have 2021?
Formerly Thrift D Discount Center (1962–1968)
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Headquarters Philadelphia, Pennsylvania, United States
Number of locations 2,451 (2021)
How many Rite Aid locations are there in the US?
Rite Aid Corporation is also proud to be one of the nation's leading drugstore chains. With approximately 2,500 stores in 19 states, we have a strong presence on both the East and West Coasts, employing more than 51,000 associates.
How much money did Rite Aid make in 2020?
For the fiscal year ended , revenues from continuing operations were $21.9 billion compared to revenues of $21.6 billion in the prior year, an increase of $0.3 billion or 1.3 percent.
Is Rite Aid losing money?
Continued Losses For the latest quarter, Rite Aid had a loss of $1.86 per share. According to their current guidance for the fiscal year, management is expecting a loss of $197 million-$221 million or about a $3.54-$3.97 loss per share.
Why is Rite Aid closing?
These closures are a part of a strategy to “reduce costs, drive improved profitability and ensure that we have a healthy foundation to grow from, with the right stores in the right locations,” said Rite Aid's president and chief executive officer Heyward Donigan in a statement.