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Rite Aid Corporation Company Profile
Rite Aid is clinging to its position as a distant third (behind Walgreen and CVS) in the US retail drugstore business. The struggling company runs more than 4,600 drugstores in some 30 states and the District of Columbia. Rite Aid stores fill prescriptions (more than two-thirds of sales) and sell health and beauty aids, convenience foods, greeting cards, and more, including some 3,000 Rite Aid brand private-label products. About 60% of all Rite Aid stores are freestanding and more than half have drive-through pharmacies. Rite Aid acquired more than 1,850 Brooks and Eckerd drugstores from Canada's Jean Coutu Group for about $4 billion, which saddled the company with plenty of debt and some redundant stores.
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