Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. The company operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and an assortment of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, pet care, and other every day and convenience products, as well as brand and generic prescription drugs. It also operates retail clinics that provide treatment for common conditions; and provides preventative services. In addition, this segment offers healthcare coaching and disease management services. The Pharmacy Services segment provides integrated suite of pharmacy benefit management (PBM) offerings, including technology solutions, mail delivery services, specialty pharmacy, network and rebate administration, claims adjudication, and pharmacy discount programs, as well as drug benefits under the federal government's Medicare Part D program and insurance offerings for individuals and groups. This segment serves health plans, commercial employers, labor groups, and state and local governments. As of April 28, 2021, the company operated approximately 2,500 retail pharmacy locations in 17 states. Rite Aid Corporation was founded in 1962 and is headquartered in Camp Hill, Pennsylvania.
IPO Year:
Exchange: NYSE
Website: riteaid.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/7/2022 | $16.00 → $1.00 | Hold → Sell | Deutsche Bank |
| 6/25/2021 | $21.00 → $12.00 | Neutral → Underweight | JP Morgan |
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Revenues of $5.7 Billion, Compared to Prior Year Revenues of $6.0 Billion Retail Comparable Same Store Prescriptions Increased 4.7 Percent – Comparable Same Store Prescriptions, Excluding COVID Impact, Increased 7.4 Percent Net Loss of $306.7 Million Compared to Prior Year Net Loss of $110.2 Million – Increase Largely Attributable to a Goodwill Impairment Charge at Elixir Adjusted EBITDA of $91.7 Million, Compared to Prior Year Adjusted EBITDA of $100.1 Million Updates Fiscal 2024 Outlook Rite Aid Corporation (NYSE:RAD) today reported operating results for its first fiscal quarter ended June 3, 2023. "Our first quarter results were driven by strong script growth, solid ph
Rite Aid Corporation (NYSE:RAD) will release financial results for its Fiscal 2024 First Quarter, which ended June 3, 2023, on Thursday, June 29, 2023. The company will hold an analyst call at 8:30 a.m. ET with remarks by Rite Aid's management team. The call will be broadcast at https://investors.riteaid.com. The telephone replay will be available beginning at 12:00 p.m. ET on Thursday, June 29, 2023, through 11:59 p.m. ET on July 29, 2023. To access the replay of the call, please dial (800) 770-2030 or (647) 362-9199 and enter the seven-digit reservation number 9029129. The webcast replay of the call will also be available at https://investors.riteaid.com starting at 12 p.m. ET Thursda
Fourth Quarter Highlights: Revenues of $6.1 billion, Comparable to Prior Year Retail Comparable Same Store Prescriptions Increased 5.2 Percent – Comparable Same Store Prescriptions, Excluding COVID Impacts, Increased 9.7 Percent Net Loss per Share of $4.39, Compared to Prior Year Net Loss per Share of $7.18 Adjusted EBITDA of $128.6 million, Compared to the Prior Year Adjusted EBITDA of $106.1 million Completed Tender Offer for $165 million of our 2025 notes – Reducing Amount Outstanding to $320 million From $600 million at Beginning of Fiscal 2022 Full Year Highlights: Revenues of $24.1 billion, Compared to Prior Year Revenues of $24.6 billion Retail Comparable Same
Rite Aid Corporation (NYSE:RAD) will release financial results for its Fiscal 2023 Fourth Quarter, which ended March 4, 2023, on Thursday, April 20, 2023. The company will hold an analyst call at 8:30 a.m. ET with remarks by Rite Aid's management team. The call will be broadcast at https://investors.riteaid.com. The telephone replay will be available beginning at 12:00 p.m. ET on Thursday, April 20, 2023, through 11:59 p.m. ET on May 21, 2023. To access the replay of the call, please dial (800) 770-2030 or (647) 362-9199 and enter the seven-digit reservation number 9029129. The webcast replay of the call will also be available at https://investors.riteaid.com starting at 12 p.m. ET Wednes
Strong Elixir earnings contribute to results Revenues of $6.1 billion, Compared to Prior Year Revenues of $6.2 billion Retail Comparable Same Store Prescriptions Increased 4.4 Percent - Comparable Same Store Acute Prescriptions, Excluding COVID Immunizations, Increased 8.0 Percent Same Store Front-End Sales, Excluding Tobacco, Increased 2.7% Net Loss per Share of $1.23, Compared to the Prior Year Net Loss per Share of $0.67 Adjusted Net Loss per Share of $0.14, Compared to the Prior Year Adjusted Net Income of $0.15 per Share Adjusted EBITDA of $121.9 million, Compared to the Prior Year Adjusted EBITDA of $154.8 million, with Elixir growing 39% to $40.2 million from $28.9 millio
Rite Aid Corporation (NYSE:RAD) will release financial results for its Fiscal 2023 Third Quarter, which ended Nov. 26, 2022, on Wednesday, December 21, 2022. The company will hold an analyst call at 8:30 a.m. ET with remarks by Rite Aid's management team. The call will be broadcast at https://investors.riteaid.com. The telephone replay will be available beginning at 12:00 p.m. ET on Wednesday, Dec. 21, 2022, through 11:59 p.m. ET on January 21, 2023. To access the replay of the call, please dial (800) 770-2030 or (647) 362-9199 and enter the seven-digit reservation number 9029129. The webcast replay of the call will also be available at https://investors.riteaid.com starting at 12 p.m. ET
Retail Comparable Store Prescriptions Increased 3.1 Percent – Comparable Store Acute Prescriptions, Excluding COVID Immunizations, Increased 5.3 Percent Revenues of $5.9 billion, Compared to Prior Year Revenues of $6.1 billion Net Loss per Share of $6.07, Compared to the Prior Year Net Loss per Share of $1.86 Driven by Non-Cash Goodwill Impairment Charge Adjusted Net Loss per Share of $0.63, Compared to the Prior Year Adjusted Net Loss of $0.41 per Share Adjusted EBITDA of $78.5 million, Compared to the Prior Year Adjusted EBITDA of $106.2 million Fiscal 2023 Adjusted EBITDA Outlook Updated to $450 million to $490 million Rite Aid Corporation (NYSE:RAD) today reported oper
Rite Aid Corporation (NYSE:RAD) will release financial results for its Fiscal 2023 Second Quarter, which ended Aug. 27, 2022, on Thursday, Sept. 29. The company will hold an analyst call at 8:30 a.m. ET with remarks by Rite Aid's management team. The call will be broadcast at https://investors.riteaid.com. The telephone replay will be available beginning at 12:00 p.m. ET on Thursday, Sept. 29 through 11:59 p.m. ET on October 31. To access the replay of the call, please dial (800) 770-2030 or (647) 362-9199 and enter the seven-digit reservation number 9029129. The webcast replay of the call will also be available at https://investors.riteaid.com starting at 12 p.m. ET Thursday, Sept. 29. T
Retail Comparable Store Prescriptions Increased 0.9 Percent – Comparable Store Non-COVID Acute Prescriptions Increased 11.9 Percent Revenues of $6.01 billion, Compared to Prior Year Revenues of $6.16 billion Net Loss per Share of $2.03, Compared to Prior Year Net Loss per Share of $0.24 Adjusted Net Loss per Share of $0.60, Compared to Prior Year Adjusted Net Income per Share of $0.38, Driven by Non-Cash Impairment Charges and Cycling Prior Year COVID Vaccination Benefit Adjusted EBITDA of $100.1 million, Compared to the Prior Year Adjusted EBITDA of $138.9 million Increases Fiscal 2023 Revenue and Maintains Fiscal 2023 Adjusted EBITDA Guidance Rite Aid Corporation (NYSE:RAD) t
Rite Aid Corporation (NYSE:RAD) said today that it will release financial results for its Fiscal 2023 First Quarter, which ended May 28, 2022, on Thursday, June 23, 2022. The company will hold an analyst call at 8:30 a.m. Eastern Time with remarks by Rite Aid's management team. The call will be broadcast via the Internet at https://investors.riteaid.com. The telephone replay will be available beginning at 12:00 p.m. Eastern Time on Thursday, June 23, 2022, and ending at 11:59 p.m. Eastern Time on July 24, 2022. To access the replay of the call, telephone (800) 770-2030 or (647) 362-9199 and enter the seven-digit reservation number 9029129. The webcast replay of the call will also be avail
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Stein Succeeds Elizabeth "Busy" Burr Rite Aid Corporation (NYSE:RAD) ("Rite Aid" or the "Company") today announced that its Board of Directors has appointed Jeffrey S. Stein as Chief Executive Officer (CEO), Chief Restructuring Officer (CRO) and a member of the Board of Directors, effective immediately. Mr. Stein succeeds Elizabeth ("Busy") Burr, who has served as Interim CEO of Rite Aid since January 2023. Ms. Burr will continue to serve on the Company's Board. Mr. Stein brings more than three decades of experience as a leader and executive director at both public and private companies. Mr. Stein has particular expertise in supporting companies that are driving meaningful business tran
Reaches Agreement in Principle with Key Creditors on the Terms of Financial Restructuring Plan Initiates Voluntary Chapter 11 Process to Implement a Consensual Financial Restructuring That Will Significantly Reduce Debt and Enable Execution of Key Initiatives Receives Commitment for $3.45 Billion in New Financing to Support Business Operations Continuing to Serve Customers and Deliver Healthcare Products and Services Across Retail and Online Platforms Rite Aid Corporation (NYSE:RAD) ("Rite Aid" or the "Company") today announced it has reached an agreement in principle with certain of its senior secured noteholders on the terms of a financial restructuring plan that will allow the Co
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Expanded personalized population health capabilities support better health journeys for patients Carenet Health, a trusted partner in helping organizations simplify and power the business of healthcare, is excited to announce it is acquiring Health Dialog, a worldwide leader in delivering clinical decision support offerings. This acquisition enables Carenet to leverage its combined platform, analytics and clinicians to deliver greater efficiency and outcomes-based financial performance for clients. Health Dialog provides personalized population health services to health plans, providers, employers and pharmaceutical manufacturers. Carenet is acquiring all assets of Health Dialog from
Secures Interim Approval to Access Up to $3.45 Billion in Debtor-in-Possession Financing Continues to Serve Customers and Deliver Healthcare Products and Services Across Retail and Online Platforms Rite Aid Corporation (OTC:RADCQ) ("Rite Aid" or the "Company") today announced that it has received approvals from the U.S. Bankruptcy Court for the District of New Jersey for its "First Day" motions related to the Company's voluntary Chapter 11 petitions filed on October 15, 2023. The Court granted interim approval to access up to $3.45 billion in debtor-in-possession financing from certain of its lenders. This financing is expected to provide sufficient liquidity to support the Company th
Stein Succeeds Elizabeth "Busy" Burr Rite Aid Corporation (NYSE:RAD) ("Rite Aid" or the "Company") today announced that its Board of Directors has appointed Jeffrey S. Stein as Chief Executive Officer (CEO), Chief Restructuring Officer (CRO) and a member of the Board of Directors, effective immediately. Mr. Stein succeeds Elizabeth ("Busy") Burr, who has served as Interim CEO of Rite Aid since January 2023. Ms. Burr will continue to serve on the Company's Board. Mr. Stein brings more than three decades of experience as a leader and executive director at both public and private companies. Mr. Stein has particular expertise in supporting companies that are driving meaningful business tran
Reaches Agreement in Principle with Key Creditors on the Terms of Financial Restructuring Plan Initiates Voluntary Chapter 11 Process to Implement a Consensual Financial Restructuring That Will Significantly Reduce Debt and Enable Execution of Key Initiatives Receives Commitment for $3.45 Billion in New Financing to Support Business Operations Continuing to Serve Customers and Deliver Healthcare Products and Services Across Retail and Online Platforms Rite Aid Corporation (NYSE:RAD) ("Rite Aid" or the "Company") today announced it has reached an agreement in principle with certain of its senior secured noteholders on the terms of a financial restructuring plan that will allow the Co
Beat the Halloween Hurries by Turning Drug Store Finds Into Unforgettable Ensembles Each year, Halloween has a way of creeping up, bringing along the annual fear of finding the perfect costume. This season, Rite Aid (NYSE:RAD) is taking away that stress with their Costume Recipe Cards – easy solutions to ensure consumers shine on the spookiest night of the year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231010225914/en/Rite Aid's Costume Recipe Cards (Photo: Business Wire) The neighborhood drug store chain is more than just a popular destination for Halloween candy and décor. Rite Aid's aisles possess all the essentials n
Customers and their families can receive routine vaccinations and immunizations at select Rite Aid locations Fall's arrival brings both the bustling return to routine and the unwelcome beginning of respiratory illness season, but getting vaccinated can be a seamless family affair. Rite Aid (NYSE:RAD) will offer a Family Immunization Day at select stores providing families a convenient opportunity to walk in and get the vaccinations they need to protect themselves against the flu, COVID-19, RSV, and other viruses. Rite Aid's upcoming Family Immunization Day offers families the flexibility of a walk-in clinic, allowing them to conveniently receive routine vaccinations over the weekend. Th
Rite Aid Corporation (NYSE:RAD) (the "Company") announced today that the New York Stock Exchange (the "NYSE") informed the Company that it is no longer in compliance with NYSE continued listing standards set forth in Section 802.01B (the Minimum Market Capitalization Standard), and Section 802.01C (the Minimum Stock Price Standard) of the NYSE's Listed Company Manual. Under the NYSE rules, the Company is provided with certain cure periods and the Company's common stock will continue to be listed and traded on the NYSE during the cure periods, subject to the Company's compliance with other continued listing requirements. The current noncompliance with the NYSE listing standards does not af
Exclusive New Food Collection Features Elevated Snacks and Pantry Staples Rite Aid (NYSE:RAD) today announces the arrival of Ello Market™ to its shelves – the national drug store chain's new exclusive collection of quality snacks and indulgent treats to satisfy cravings as well as pantry staples to transform your meals. With Ello Market™, consumers can feel good about their choices thanks to wholesome, delicious options that pack a flavorful punch to fuel mind and body. Ranging from familiar flavors to adventurous tastes, Ello Market™ products are sure to make your taste buds sing. Spanning three categories – Core, Better for You, and Indulgent – customers can explore healthy options be
Customers can now schedule appointments at Riteaid.com and Bartelldrugs.com Following FDA authorization and CDC recommendation, Rite Aid (NYSE:RAD) today announced that scheduling is now available for eligible customers seeking the updated COVID-19 (2023-2024) vaccines at its locations and at Bartell Drugs locations in the Pacific Northwest. Appointments are available beginning on Friday, September 22. "Rite Aid looks forward to providing our customers access to the updated COVID-19 (2023-2024) vaccine to safeguard the health and wellbeing of our communities heading into respiratory season," said Karen Staniforth, Chief Pharmacy Officer at Rite Aid. "We strongly encourage everyone to pr
NARCAN® Nasal Spray is now available without a prescription at all Rite Aid and Bartell Drugs locations nationwide and RiteAid.com Rite Aid (NYSE:RAD) announced today that NARCAN® Nasal Spray, a medication used to reverse the effects of an opioid overdose, is available at all locations nationwide, including Bartell Drugs in the Pacific Northwest. NARCAN® Nasal Spray can be purchased over the counter without a prescription. NARCAN® Nasal Spray (naloxone HCl 4 mg) is a medication designed to rapidly reverse the effects of a life-threatening opioid emergency and is the standard treatment for opioid overdose. It is now FDA-approved for OTC use and is available for purchase at Rite Aid store
Deutsche Bank downgraded Rite Aid from Hold to Sell and set a new price target of $1.00 from $16.00 previously
JP Morgan downgraded Rite Aid from Neutral to Underweight and set a new price target of $12.00 from $21.00 previously
Deutsche Bank reiterated coverage of Rite Aid with a rating of Hold and set a new price target of $27.00 from $17.00 previously