PHILADELPHIA — Rite Aid Corp. announced Monday that its board of directors has appointed Elizabeth (“Busy”) Burr, a member of the company’s board, as interim CEO, effective immediately. Burr’s appointment follows Heyward Donigan’s departure from the company as president and CEO, and as a member of the board. Rite Aid has initiated a search to
PHILADELPHIA — Rite Aid Thursday reported fourth quarter revenue that topped Wall Street’s forecast. The company posted revenue of $6.065 billion for the period ended February 26, up 2.5 percent from $5.917 billion in the year-ago quarter and far greater than the FactSet consensus of $5.470 billion. The gain was driven by retail segment growth,
CAMP HILL, Pa. — Rite Aid’s Elixir subsidiary, which provides pharmacy benefits and services, said Tuesday that veteran healthcare and pharmacy executive Lance Neill has joined the company as chief operating officer. Neill was most recently vice president of network development and contracting for Centene’s portfolio of managed care products, representing $32 billion in annual
CAMP HILL, Pa. — Rite Aid announced on Monday that Andre Persaud has been named chief retail officer. Persaud was appointed executive vice president, retail for Rite Aid in February 2020 and assumed responsibility for orchestrating new in-store experiences and retail operations processes in line with the company’s RxEvolution strategy. “Andre has not only
CAMP HILL, Pa. — Rite Aid Corp.’s third quarter sales climbed 12% to $6.12 billion, but adjusted earnings slipped to 40 cents a share from 54 cents a year earlier, hurt by elevated expenses. Still, both sales and earnings beat Wall Street’s estimates. Net income for the quarter ended November 28 was $4.3 million, down
CAMP HILL, Pa. — Rite Aid’s second-quarter sales and earnings beat Wall Street’s forecast. Adjusted earnings per share of 25 cents topped analysts’ projection of a 1 cent loss. Revenue for the period ended August 29 climbed 11.5% to $5.98 billion, driven by store and PBM gains, and bettering the forecast $5.75 billion. The
CAMP HILL, Pa. — As America grapples once again with profound issues regarding race, justice and the treatment of people of color in the wake of tragic events in recent weeks, The Rite Aid Foundation commits to combat racism and foster more diverse, inclusive and equitable opportunities in communities by launching a Racial Equity Awareness
Editor’s note: This is part of a series of articles on how retailers are responding to the COVID-19 crisis. As the COVID-19 pandemic shutters schools, clears freeways and shuts down entire cities, more than 50,000 Rite Aid associates have found themselves on the front lines of a once-in-a-generation public health crisis. We’re living our mission
CAMP HILL, Pa. — Rite Aid Corp provided an outline of the company’s corporate strategy and growth plan at its Analyst Day held via webcast on Monday. The company also is also detailed how its strategic initiatives are designed to drive revenue and Adjusted EBITDA growth, as well as reduce the company’s leverage ratio. “Rite
CAMP HILL, Pa. — Rite Aid Corp. has appointed Heyward Donigan chief executive officer. Donigan was most recently president and CEO of Sapphire Digital (formerly Vitals), which designs and develops omnichannel platforms that help consumers choose their best-fit health care providers. At Rite Aid she succeeds John Standley, who had announced in March that he
CAMP HILL, Pa .— Rite Aid Corp. said Monday that the board of directors has appointed Heyward Donigan as chief executive officer and a member of the board, effective immediately. As planned, John Standley will step down from his role as chief executive officer. “Today’s announcement is an important step in positioning Rite Aid for