Profile: Rite Aid Corp (RAD)
9 Dec 2013
Rite Aid Corporation, incorporated on April 15, 1968, is a retail drugstore chain in the United States. As of March 3, 2013, the Company operated 4,623 stores in 31 states across the country and in the District of Columbia. In the Company’s stores, it sells prescription drugs and a range of other merchandise, which it calls front end products. During the fiscal year ended March 3, 2013 (fiscal 2013), prescription drug sales accounted for 67.6% of its total sales. The Company carries a range of front end products, which accounted for 32.4% of its total sales in fiscal 2013. Front end products include over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, beverages, convenience foods, greeting cards, seasonal merchandise and other everyday and convenience products, as well as photo processing. It offers a variety of products under its private brands, which contributed approximately 18.3% of its front end sales in the categories where private brand products were offered in fiscal 2013. As of March 3, 2013, the Company had opened over 2,100 GNC stores-within-Rite Aid-stores. During fiscal 2013, the Company sold two owned operating stores to independent third parties. Effective August 5, 2013, Rite Aid Corp acquired Kings Pharmacy East Inc, which owns and operates pharmacy.
During fiscal 2013, its stores filled approximately 297 million prescriptions and served an average of 2.0 million customers per day. The overall average size of each store in its chain is approximately 12,600 square feet. As of March 2, 2013, 61% of its stores were freestanding; 52% of its stores included a drive-thru pharmacy; and 47% included a GNC store within Rite Aid store. The Company’s customers may also order prescription refills over the Internet through www.riteaid.com, or over the phone through its telephonic automated refill systems for pick up at a Rite Aid store. It has a strategic alliance with GNC, a retailer of vitamin and mineral supplements. It also owns a 55,800 square foot ice cream manufacturing facility and lease a 32,000 square foot storage facility located in El Monte, California.
Rite Aid Corp
30 Hunter Lane
CAMP HILL PA 17011
Company Web Links
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