Rite Aid

Rite Aid is a drugstore chain with more than 4,900 stores on the East and West Coasts. According to statistics, the chain is the largest on the East coast and it is the third largest drugstore chain in the United States, after CVS and Walgreens.https://raportal.riteaid.com/RA/RAPORTAL/RAMN0001.aspx Rite Aid was started in 1962, in Scranton, Pennsylvania, by the founder, Alexander Grass. In recent years, Rite Aid restructured their business model and they partnered with DrugStore.com to build a presence on the Internet, as a reliable online pharmacy.https://raportal.riteaid.com/RA/RAPORTAL/RAMN0001.aspx

Through ongoing training, the employees of Rite Aid help to keep the core values of the company in the forefront, by volunteering their time and services, to improve their community. The volunteers are sent into the schools, by Rite Aid to teach the students about the importance of poison control and the adverse effects of drug abuse. Their time is spent in nursing homes, helping the patients learn the particulars about their prescriptions. Rite Aid is also a supporter of the Children's Miracle Network, they sell balloons in each store and donate the proceeds to the Network.https://raportal.riteaid.com/RA/RAPORTAL/RAMN0001.aspx

In 1962, the Thrif D Discount Center opened in Scranton, Pennsylvania. Through investments and planning, there were Thrif D stores scattered across five States by 1965. In 1968, the name was officially changed to Rite Aid Corporation and began operating under stricter guidelines. They became a public company and a few months later, Rite Aid began trading on the American Stock Exchange. In 1970, the company moved to the New York Stock Exchange. The business model of Rite Aid continued to grow and there were more than 2,000 stores in operation by 1988. The corporation continued to invest and buy smaller drug store chains and they acquired real estate holdings all over the country.http://www.riteaid.com/company/about/history.jsf

According to RiteAid.com, they hired a new management team in 1999 that restructured the entire business. The new management gained control of finances and made bookkeeping changes, that proved to be profitable. Their increasing financial problems were hidden by false bookkeeping records and the company was slowly sinking into financial ruin. After building their presence on the Internet and hiring a new management team, Rite Aid saw an increase in their sales and profits that catapulted the chain into the top of their industry.The year 2007 brought even more expansion for Rite Aid when they purchased the Brooks and Eckerd drug stores and became the largest drug store on the East coast. According to the Yahoo Financial reporthttp://finance.yahoo.com/q/co?s=RAD, Rite Aid is the third largest retail drug store chain with close to 5,000 stores, in 31 States and in the District of Columbia.http://www.riteaid.com/company/about/history.jsf

• 1927 - 25th Anniversary

• 1996 - acquired Thrifty Payless Holding, Inc.

• 1999 - formed a partnership with GNC

• 1999 - partnered with Drugstore.com to start an online pharmacy.

• 2007 - finalized the purchase of the Brooks and Eckerd drugstores chains.

• CVS Pharmacy, Walgreens, WalMart

• Medicine

• Personal care

• Wellness Supplies

• Health and Beauty Supplies