Rite Aid Corporation (NYSE: RAD) is a major drugstore chain in the United States. The company has been in operation since 1934, and currently operates over 1,700 stores across the country.
Rite Aid Corporation has been in the news recently for a potential name change. Reports surfaced that the company is considering changing its name to “Rite Aid Maxx” in order to better compete against larger rivals such as Walgreens Boots Alliance (WBA) and CVS Health (CVSI).
While Rite Aid Corporation has not yet made a final decision, the potential name change is sure to stir up a lot of speculation. It is worth noting that the company has not released a statement confirming or denying the reports. If the name change does happen, it would be the latest in a long line of strategic changes for the company. Rite Aid Corporation has been trying to make a mark in the digital age by expanding its online presence and launching its own line of pharmacy products.
It is also worth noting that the company has been struggling with low stock prices and weak earnings. If the name change does happen, it could help to improve the company’s image and give it a new direction.
