Content about Rite Aid

June 24, 2013

Rite Aid reported its third consecutive profitable quarter Thursday, with profits of nearly $90 million, following the introduction of the largest expansion of its Wellness+ loyalty card program, dubbed Wellness65+, and days before the promotion of COO Ken Martindale to president of the company.

The 4,615-store drug chain has been on a roll lately, continuing to benefit from the switch from branded to generic drugs and the retention of last year's dispute between Walgreens and Express Scripts.

Rite Aid reported its third consecutive profitable quarter Thursday, with profits of nearly $90 million, following the introduction of the largest expansion of its Wellness+ loyalty card program, dubbed Wellness65+, and days before the promotion of COO Ken Martindale to president of the company.

June 21, 2013

Rite Aid has completed an effort to refinance half a billion dollars in debt, the retail pharmacy chain said Friday, fresh off its announcement the day before of its third consecutive profitable quarter.

CAMP HILL, Pa. — Rite Aid has completed an effort to refinance half a billion dollars in debt, the retail pharmacy chain said Friday, fresh off its announcement the day before of its third consecutive profitable quarter.

Rite Aid said it completed a portion of transactions to extend the maturity of part of its outstanding indebtedness, which it said would lower interest expenses. The company has about $6 billion in debt, according to its fiscal year 2013 annual report.

June 20, 2013

Rite Aid posted its third consecutive profitable quarter Thursday morning as it launched the largest extension to date to its loyalty card program and continued growing the latest iteration of its new store format.

CAMP HILL, Pa. — Rite Aid posted its third consecutive profitable quarter Thursday morning as it launched the largest extension to date to its loyalty card program and continued growing the latest iteration of its new store format.

June 19, 2013

Rite Aid is offering to buy back $810 million worth of debt while increasing the amount of a new bond sale announced Tuesday, the retail pharmacy chain said.

CAMP HILL, Pa. — Rite Aid is offering to buy back $810 million worth of debt while increasing the amount of a new bond sale announced Tuesday, the retail pharmacy chain said.

Rite Aid said it would buy back all of its $810 million worth of 9.5% senior notes due 2017. The company also said it would increase the $400 million offering of 6.75% senior notes due 2021 by another $410 million, for a total of $810 million, as part of a debt-refinancing plan.

June 19, 2013

Rite Aid is launching an extension to its Wellness+ loyalty card program aimed at elderly customers, the retail pharmacy chain said Wednesday.

CAMP HILL, Pa. — Rite Aid is launching an extension to its Wellness+ loyalty card program aimed at elderly customers, the retail pharmacy chain said Wednesday.

Rite Aid announced Wellness65+, which makes customers age 65 years and older who enroll automatically eligible for an expanded pharmacist consultation, during which they can bring in current medications for a review by the pharmacist and discuss immunization needs.

June 17, 2013

Rite Aid announced a new debt-refinancing plan, the second such plan in two weeks.

CAMP HILL, Pa. — Rite Aid announced Monday a new debt-refinancing plan, the second such plan in two weeks.

The company announced that it would offer for sale a new series of senior notes due 2021 worth $400 million, which would be unsecured, unsubordinated obligations of Rite Aid Corp. and would be guaranteed by the company. The retailer said on June 7 that it would purchase $500 million worth of 7.5% senior notes due 2017.

Proceeds from the offering will be used to redeem $400 million of the company's outstanding 9.5% senior notes due 2017.

June 12, 2013

Rite Aid will offer free informational resources in its stores and online on summer skin care, as well as sponsoring a cross-country tour offering full-body skin cancer screenings, the drug store chain said Wednesday.

CAMP HILL, Pa. — Rite Aid will offer free informational resources in its stores and online on summer skin care, as well as sponsoring a cross-country tour offering full-body skin cancer screenings, the drug store chain said Wednesday.

Rite Aid is partnering with the Skin Cancer Foundation for the program, which will last through July. A study published in the June edition of the Annals of Internal Medicine indicated that proper sun protection can keep skin looking younger as well as healthier.

June 7, 2013

Rite Aid moved to refinance its debt Friday, announcing that it would buy half a billion dollars in notes using proceeds from a new loan, while also projecting that it would turn a profit in the first quarter of fiscal year 2014, results of which it will announce next week.

CAMP HILL, Pa. — Rite Aid moved to refinance its debt Friday, announcing that it would buy half a billion dollars in notes using proceeds from a new loan, while also projecting that it would turn a profit in the first quarter of its fiscal year 2014, results of which it will announce next week.

The retail pharmacy chain said it would buy $500 million worth of 7.5% Senior Secured Notes, due 2017, using the proceeds from a $500 million second lien term loan.

The offer will expire on July 5 unless it's extended, the company said.

June 6, 2013

Rite Aid's same-store sales decreased by 1.5% in May as the shift to generic drugs continued to offset front-end comps, the retail pharmacy chain said.

CAMP HILL, Pa. — Rite Aid's same-store sales decreased by 1.5% in May as the shift to generic drugs continued to offset front-end comps, the retail pharmacy chain said Thursday.

The Camp Hill, Pa.-based retailer reported a 0.8% increase in front-end comps for the month, which included the five weeks that ended June 1, and a 2.7% decrease in pharmacy comps, which itself included a 3.73% negative effect from new generics. Same-store prescription count decreased by 0.3%.

June 4, 2013

The maker of a line of 3-D kiosks is installing them at 200 Rite Aid stores in New York and Los Angeles after the completion of a 10-store pilot program last year.

CHATSWORTH, Calif. — The maker of a line of 3-D kiosks is installing them at 200 Rite Aid stores in New York and Los Angeles after the completion of a 10-store pilot program last year.

Provision Interactive Technologies said Tuesday that it had entered a multi-year deal with Rite Aid to install its 3-D Reward Centers, which generate 3-D holographic videos, information about the Wellness+ loyalty card program and promotions.

June 3, 2013

Cosmetic Promotions has announced the addition of a new college program for those manufacturers interested in targeting the teen market.

WINTER PARK, Fla. — Cosmetic Promotions has announced the addition of a new college program for those manufacturers interested in targeting the teen market.

Via the program, select manufacturers can include their samples and/or coupons in a bag that will be hung on female dorm room doors at eight colleges with a high concentration of Walgreens, CVS and Rite Aid stores within five miles of campus. The program closes on June 7, and it is limited to the first five vendors with qualifying samples, the company stated.

May 30, 2013

When it announced its fourth-quarter and fiscal year 2013 earnings in April, Rite Aid noted that it performed 2.4 million flu vaccinations, as well as 400,000 vaccinations for pneumonia, shingles and whooping cough. Walgreens administered more than 6.5 million immunizations in 2012, and CVS' totals reached more than 3.5 million.

When it announced its fourth-quarter and fiscal year 2013 earnings in April, Rite Aid noted that it performed 2.4 million flu vaccinations, as well as 400,000 vaccinations for pneumonia, shingles and whooping cough. Walgreens administered more than 6.5 million immunizations in 2012, and CVS' totals reached more than 3.5 million.

May 20, 2013

A California health executive has been appointed to Rite Aid's board of directors, the retail pharmacy chain said.

CAMP HILL, Pa. — A California health executive has been appointed to Rite Aid's board of directors, the retail pharmacy chain said Monday.

May 14, 2013

Rite Aid is sponsoring its second annual nail-art contest, the retail pharmacy chain said.

CAMP HILL, Pa. — Rite Aid is sponsoring its second annual nail-art contest, the retail pharmacy chain said Tuesday.

Rite Aid announced the launch of its "Nail Extravaganza," based around the two-round "Search for the Rite Aid Nail Enthusiast" contest; the first round runs through May 24. Contestants compete for 20 prizes by submitting nail designs at Riteaidnails.com.

May 14, 2013

According to a recent poll that will appear in the June 2013 issue of ShopSmart, 56% of women do not take advantage of coupons and discount codes when it comes to purchasing makeup, skin care items and other beauty products.

YONKERS, N.Y. — According to a recent poll that will appear in the June 2013 issue of ShopSmart, 56% of women do not take advantage of coupons and discount codes when it comes to purchasing makeup, skin care items and other beauty products.

"There's no reason to overpay or to miss a potential deal when buying beauty items," said Lisa Lee Feeman , editor-in-chief of ShopSmart. "Also consider store-brand beauty products — if you like them, the savings can be worthwhile in the long run."

May 10, 2013

Rite Aid announced Wednesday that it has converted nearly all its stores in the Buffalo, N.Y., area to the Wellness store format, breaking the news with an event in the nearby village of Williamsville that included president, chairman and CEO John Standley, COO Ken Martindale and fitness expert Denise Austin.

Just as writers find their voices, Rite Aid has paved its road with wellness. Evidence of that was clear when it announced its latest last month, raking in a $123.1 million profit for the fourth quarter and a $118.1 million profit for the fiscal year, its first profitable year since 2007.

Rite Aid announced Wednesday that it has converted nearly all its stores in the Buffalo, N.Y., area to the Wellness store format, breaking the news with an event in the nearby village of Williamsville that included president, chairman and CEO John Standley, COO Ken Martindale and fitness expert Denise Austin.

May 8, 2013

New York state's second-largest city has become the first market in which a majority of Rite Aid's stores have been converted to the Wellness format, the retail pharmacy chain said Wednesday.

BUFFALO, N.Y. — New York state's second-largest city has become the first market in which a majority of Rite Aid's stores have been converted to the Wellness format, the retail pharmacy chain announced Wednesday.

May 7, 2013

The U.S. Senate passed the Marketplace Fairness Act, which would enable states to collect sales tax on online transactions, to widespread applause from big-box retail.

WASHINGTON — The U.S. Senate on Monday passed the Marketplace Fairness Act, which would enable states to collect sales tax on online transactions, to widespread applause from big-box retail. If passed the act would remove the up-to 7% price advantage out-of-state online retailers have over brick-and-click or brick-and-mortar retailers operating and collecting sales taxes within the state. (For a comprehensive list of state sales taxes, click here.) 

May 6, 2013

Rite Aid is sending out a customized 38-ft. van to 50 stores around the country as part of a campaign to promote skin care.

CAMP HILL, Pa. — Rite Aid is sending out a customized 38-ft. van to 50 stores around the country as part of a campaign to promote skin care.

The retail pharmacy chain announced Monday the start of the Road to Healthy Skin Tour, which it is sponsoring on behalf of the Skin Cancer Foundation to coincide with Skin Cancer Awareness Month. The tour is in its sixth year and will visit Rite Aid stores in the Northeast, Midwest, South and West.

May 3, 2013

Jobs data from the Department of Labor released Friday show that among the 165,000 jobs added overall were 29,000 in the retail sector, results that industry trade group the National Retail Federation heralded as possibly boding well for the economy in the future.

While the numbers themselves speak volumes, it's important to consider some of the factors behind them that explain why the sector has thrived.

Jobs data from the Department of Labor released Friday show that among the 165,000 jobs added overall were 29,000 in the retail sector, results that industry trade group the National Retail Federation heralded as possibly boding well for the economy in the future.

While the numbers themselves speak volumes, it's important to consider some of the factors behind them that explain why the sector has thrived.

May 2, 2013

Rite Aid's same-store sales decreased 4% in April compared with April 2012 due to an earlier Easter and introductions of new generic drugs, the retail pharmacy chain said.

CAMP HILL, Pa. — Rite Aid's same-store sales decreased 4% in April compared with April 2012 due to an earlier Easter and introductions of new generic drugs, the retail pharmacy chain said Thursday.

The numbers released Thursday included a 3.5% decrease in sales on the front end and a 4.2% decrease in pharmacy sales, but the pharmacy figure included a 4.54% negative effect due to new generics. Same-store prescription count decreased by 0.2%.

Total sales for the month were $1.902 billion, a 4.6% decrease over April 2012's $1.993 billion.

May 1, 2013

Rite Aid has signed on as a platinum sponsor of the Entertainment Industry Foundation Revlon Run/Walk for Women, the retail pharmacy chain said Wednesday.

CAMP HILL, Pa. — Rite Aid has signed on as a platinum sponsor of the Entertainment Industry Foundation Revlon Run/Walk for Women, the retail pharmacy chain said Wednesday.

The company will sponsor the New York and Los Angeles events this month, fielding teams of runners and walkers, manning booths and bringing fitness expert Denise Austin to warm up participants, as well as partnering with Revlon to donate a combined $100,000 to the EIF in support of efforts against women's cancer.

April 29, 2013

Supervalu has appointed Rite Aid president, chairman and CEO John Standley to its board of directors, the supermarket operator said. The company also announced the appointment of Cerberus Capital Management COO and general counsel Mark Neporent.

MINNEAPOLIS — Supervalu has appointed Rite Aid president, chairman and CEO John Standley to its board of directors, the supermarket operator said.

The company also announced the appointment of Cerberus Capital Management COO and general counsel Mark Neporent.

April 25, 2013

TORONTO — Shoppers Drug Mart announced on Thursday that first quarter sales rose 3.8% thanks to strong volume in pharmacy and continued sales and market share gains at the front end. The company also indicated that it remains on the acquisition track and is "carefully" watching as Target bolsters its presence in Canada.

April 22, 2013

During the National Association of Chain Drug Stores Annual Meeting today, the association elected the new officers, two new executive committee members and four new board of directors members for the coming year.

PALM BEACH, Fla. — During the National Association of Chain Drug Stores Annual Meeting today, the association elected the new officers, two new executive committee members and four new board of directors members for the coming year.

Robert Narveson, president and CEO of Thrifty White Pharmacy, was elected as the new NACDS chairman of the board of directors, succeeding Gregory Wasson, president and CEO of Walgreens.