What Is The Number Of Rite Aid Locations?

As of September 15, 2024, there are 1,552 Rite Aid locations in the United States, with the highest number in California. The company, headquartered in Philadelphia, Pennsylvania, has grown to become one of the leading drugstore chains in the country. With 1,692 retail pharmacy locations across 16 states and territories, Rite Aid has a strong presence on both the East and West Coasts, employing more than 51,000 associates.

The company’s history dates back to 1962 when it opened as Thrif D Discount Center in Scranton, Pennsylvania. In 1968, the name officially changed to Rite Aid Corporation. In 1981, it became the third-largest retail drugstore. Rite Aid is currently closing multiple locations after filing for bankruptcy last year.

With approximately 1,700 retail pharmacy locations across 16 states, Rite Aid has a workforce of over 45,000 strong. In 2023, the number of Rite Aid stores in the United States decreased from 4,667 in 2012 to 2,309 as of 2023. In 2018, Walgreens filed court documents stating that Rite Aid plans to close 77 stores nationwide, including over 20 in California.

In summary, Rite Aid is the third-largest drugstore chain in the United States, with nearly 1,300 stores in 16 states, primarily on the East and West coasts. The company’s closures in 2024 reflect its ongoing struggle to maintain its position as a leading drugstore chain.

How many Rite Aid stores are in California?

A total of 351 Rite Aid stores are currently operational within the state of California.

Is Rite Aid leaving NYC?

Rite Aid will close 59 stores in New York, accounting for 8. 4% of the 699 closures announced. The pharmacy chain filed for Chapter 11 bankruptcy in October to reduce debt. U. S. Bankruptcy Judge Michael Kaplan approved the plan, allowing Rite Aid to cut $2 billion in debt and transfer control to lenders. The company plans to exit bankruptcy soon, funded by $2. 55 billion in lenders’ financing.

Will Rite Aid go under?

Following the successful conclusion of its financial restructuring and the avoidance of Chapter 11 bankruptcy, Rite Aid will transition to a private company.

How many Rite Aid stores are there in New York?

A total of 181 Rite Aid stores are located within the state of New York.

How much is Rite Aid worth?

As of December 15, 2023, Rite Aid had a market capitalization of $36. 75 million, which is the total market value of a publicly traded company’s outstanding shares and is used as a measure of its market value.

Did Rite Aid CEO quit?

Rite Aid, a US pharmacy chain, has filed for bankruptcy after operating over 2, 000 retail pharmacy locations and planning to close 154 stores. The company now operates around 1, 700 retail pharmacy locations. In January 2023, CEO Heyward Donigan stepped down, and the board decided to identify the next leader. Elizabeth Burr was appointed as interim CEO, and in October, Stein took over as CEO and chief restructuring officer.

Now, CEO and chief restructuring officer, Bruce Bodaken, said that Schroeder is an excellent fit for the company due to his deep understanding of the business. Rite Aid is now beginning its next phase as a transformed company, thanks to the dedication of the entire organization.

Who is the CEO of Rite Aid?

Matt Schroeder is the CEO of Rite Aid, a leading pharmacy services provider in the US. With nearly 25 years of experience, Schroeder has optimized the company’s financial systems and aligned its strategy with its financial initiatives. He has led Rite Aid’s store development and procurement functions, provided guidance and decision-making for enterprise-wide operations, and guided the company’s decisions around capital structure and capital allocation.

Schroeder joined Rite Aid in 2000 as vice president of financial accounting and was promoted to group vice president of strategy, investor relations, and treasurer in 2010. In 2017, he was named senior vice president, chief accounting officer, and treasurer. Prior to joining Rite Aid, Schroeder worked for Arthur Andersen LLP, where he held several positions, including audit manager. His leadership is instrumental in supporting high-performance teams and delivering superior customer service across Rite Aid’s stores.

What is the richest Fortune 500 company?

The Fortune Global 500, an annual ranking of the top 500 corporations worldwide, is compiled and published by Fortune magazine. It initially listed only non-United States industrial corporations under the title “International 500”, but since 1990, it has included United States companies to create a truly global list of top industrial corporations. Since 1995, the list has included top financial corporations and service providers by revenue.

However, there are inconsistencies in Fortune’s ranking of cities with the most Fortune 500 headquarters, with some cities including regional headquarters, excluding regional headquarters for other cities, and sometimes excluding headquarters physically located within city limits.

Is Rite Aid losing money?

Rite Aid, a US pharmacy chain, has reported a $307 million loss between March and May 2023, and a loss of about $3 billion over the past six years. The company, which employed over 6, 100 pharmacists and operated 2, 100 retail pharmacy locations across 17 states, plans to close 154 stores nationwide. It now operates around 1, 416 stores in 16 states. Rite Aid also sold off some of its businesses, including its Elixir Solutions business, to MedImpact Healthcare Systems for $577 million in February. The company’s bankruptcy court documents indicate a significant reduction in its footprint.

Is Rite Aid a Fortune 500 company?

Rite Aid, founded in 1962 by Alex Grass, became a publicly traded company in 1968 and ranked No. 148 in the Fortune 500 in 2022. The company faced bankruptcy in October 2023 due to a large debt load and lawsuits related to the opioid crisis. The first store was Thrift D Discount Center, which expanded into five states in 1965 and went public as Rite Aid in 1968. The company moved to the New York Stock Exchange in 1970 and operated 267 locations in 10 states.

In 1981, it became the third-largest retail drugstore chain in the country. In 1983, it reached a sales milestone of $1 billion, and in 2023, it filed for Chapter 11 bankruptcy due to a large debt load and lawsuits.

What is the Rite Aid scandal?

Rite Aid, founded in 1962 as Thrift D Discount Center, faced an accounting scandal in 1999 when it began restating earnings due to accounting irregularities. Six former Rite Aid senior executives were convicted of conspiracy in 2003 for accounting fraud and false filings with the SEC. The company changed its name to Rite Aid Corporation in 1968 and moved its stock to the New York Stock Exchange in 1970.

Rite Aid’s growth was marked by acquisitions like Envision Pharmaceutical Services in 2015 and two merger deals with Walgreens and Albertsons. Former Rite Aid executives admitted to overstating net income between 1997 and 2000.