Rite Aid Corp. is one of the largest drugstores in the United States. The company operates over 2,500 stores across the country. Rite Aid is facing a number of challenges, including increased competition from Walmart and Target, lower drug prices from competitors, and an increasing number of customers choosing to buy their drugs online. In the first quarter of 2018, Rite Aid reported a net loss of $1.16 billion, compared to a net loss of $1.
02 billion in the first quarter of 2017. The company’s stock price has declined by more than 50% over the past two years. In the first quarter of 2018, Rite Aid announced that it would be closing 150 stores across the country. The company’s CEO, John Standley, said that the closures were “a difficult but necessary step as we work to strengthen our business.” The company has been struggling to make a profit for a number of years, and it seems that the closures are only going to make things worse. The conclusion of this article is that Rite Aid is doing financially very poorly and it is likely that the company will be closing more stores in the near future.
