Rite Aid and CVS Pharmacy are linked by their common ownership by Walgreens Boots Alliance. Walgreens Boots Alliance is the largest pharmacy chain in the United States, with over 8,000 stores.
The two chains have a history of cooperating on price and product offerings, and their shared ownership has allowed them to share best practices and to make joint marketing decisions.
However, there have been reports of price fixing between Rite Aid and CVS Pharmacy. In 2016, the Federal Trade Commission (FTC) opened an investigation into whether the two chains were colluding to fix the prices of prescription drugs.
The FTC ultimately closed the investigation without filing any charges, but the investigation raised concerns about the competitive balance between the two chains.
Overall, it appears that the two chains are linked, but their competitive relationships are worth monitoring.
