American drugstore chain
Rite Aid Corporation Formerly Thrift D Discount Center (1962–1968) Company type Public Expert Market : RADCQ NYSE : RAD (1970–2023)Industry Retail Founded September 12, 1962; 61 years ago (1962-09-12 ) In Scranton, Pennsylvania , United States Founder Alex Grass Headquarters Philadelphia, Pennsylvania , United States [ 1] Number of locations
2,271 (2023)[ 2] Key people
Jeffrey Stein, chief restructuring officer and CEO[ 3] [ 4] Matt Schroeder, CFO Products Pharmacy , grocery store , liquor store Revenue US$24.04 billion (FY 2021) [ 5] US$47.14 million (FY2021) [ 5] US$−90.9 million (FY2021) [ 5] Total assets US$9.335 billion (FY2021) [ 6] Total equity US$615.2 million (FY2021) [ 6] Number of employees
50,000 (2021) [ 7] Subsidiaries Bartell Drugs [ 8] [ 9] Website www .riteaid .com
Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania .[ 10] It was founded in 1962 in Scranton, Pennsylvania , by Alex Grass under the name Thrift D Discount Center. It is the third-largest drugstore chain in the United States, with over 2,000 stores, and ranked No. 148 in the Fortune 500 in 2022.[ 11]
After several years of growth, Rite Aid adopted its current name and debuted as a public company in 1968. Rite Aid was publicly traded on the New York Stock Exchange under the symbol RAD. In October 2023, the company filed for Chapter 11 bankruptcy , due to a large debt load and thousands of lawsuits alleging involvement in the opioid crisis .[ 12]
^ "Rite Aid Opens New Modern Headquarters in Philadelphia's Navy Yard" . Retrieved July 13, 2022 .
^ "Number of Rite Aid locations in the United States in 2023" . rentechdigital.com .
^ "Management Team" .
^ "Rite Aid files for Chapter 11 bankruptcy, names new CEO" . October 16, 2023.
^ a b c "Rite Aid" . Yahoo Finance . Retrieved October 28, 2021 .
^ a b "Rite Aid" . Yahoo Finance . Retrieved October 28, 2021 .
^ "Rite Aid | 2021 Fortune 500" . fortune.com . Retrieved October 28, 2021 .
^ "RITE AID TO ACQUIRE BARTELL DRUGS |" . Bartell Drugs .
^ "Bartell Drugs, a local, family-owned business for 130 years, to be sold to Rite Aid for $95 million" . The Seattle Times . October 7, 2020.
^ "Rite Aid Opens New Modern Headquarters in Philadelphia's Navy Yard" . Retrieved July 13, 2022 .
^ "Fortune 500 Companies" . Fortune . Retrieved July 30, 2022 .
^ Holman, Jordyn; Hirsch, Lauren (October 16, 2023). "Rite Aid, Facing Slumping Sales and Opioid Suits, Files for Bankruptcy" . The New York Times . ISSN 0362-4331 . Retrieved October 16, 2023 .