Rite Aid Closing Over A Hundred Stores

 
 
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Old 06-25-2009, 11:52 AM
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Fyi Rite Aid Closing over a hundred stores

Well, it's on aol that Rite Aid is going to close over a hundred stores and is hurting financially. I liked Rite Aid until they became so annoying over coupons (limiting 1 coupon per type of item per purchase, etc.).

Rite Aid is the closest DS in my neighborhood and I have noticed that NO ONE SHOPS there.

Story does not say which stores will be closed.

Sad!
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Old 06-25-2009, 01:19 PM

RE: Rite Aid Closing over a hundred stores

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RA was dumb enough to pay a ton for Brooks/Eckerd two years ago or so, and saddled themselves with a ton of debt right before the economy tanked. Now they are struggling to pay the debt back.

Last week, they refinanced almost $2 billion worth of debt (that would have matured in 2010, and that they probably weren't going to be able to repay otherwise).

So now they have a little bit more time to reorganize the company and get rid of bad stores. I believe that is what we are seeing right now, Iamscot.
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Old 06-25-2009, 01:33 PM

RE: Rite Aid Closing over a hundred stores

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You are right, they are paying for bad business decisions.

I also think they are paying for lousy coupon policies. If they could get us in the door...we would buy! But with stupid coupon policies...we're not going to shop there when WAGs or CVS is eager to accept our coupons.

Thanks for the reply.
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Old 06-25-2009, 03:05 PM

RE: Rite Aid Closing over a hundred stores

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Link to story

Rite Aide's struggles continue; loses nearly $100 million in its first quarter
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Old 06-25-2009, 04:00 PM

RE: Rite Aid Closing over a hundred stores

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Old 06-25-2009, 04:41 PM

RE: Rite Aid Closing over a hundred stores

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Old 06-25-2009, 06:25 PM

RE: Rite Aid Closing over a hundred stores

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They already closed one of my local stores, he said they only had 15-30 ongoing prescriptions, they did transfer all of their employees to other stores. The store did keep marking $$ down, went down to 75% of their entire store, little by little until it was sold out. Keep an eye out for closing stores, I'm sorry to say.
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Old 06-25-2009, 06:38 PM

RE: Rite Aid Closing over a hundred stores

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They're building a new RA near me about 1/2 mile from another RA, but I think they're going to close that one bc it's so old looking and sad....
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