Rite Aid Corporation (NYSE: RAD) is in the midst of a major restructuring and turnaround plan. The company has been struggling with low sales and stock prices for many years.
In February, the company announced that it would close more than 2,000 stores over the next several years. The company also plans to sell its pharmacy business.
The company’s restructuring plan is likely to take a few years to complete. In the meantime, Rite Aid is trying to improve its sales by increasing its prices and reducing its inventory.
The company also plans to focus on its drugstores, which are its most profitable stores.
The restructuring plan is likely to result in lower profits for the short term. However, the plan is likely to improve the company’s long-term prospects.
