Rite Aid

Third largest drug store chain.

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Headquarters:
30 Hunter Lane
Camp Hill, PA 17011
Employees: 116,000
CEO: Mary Sammons
Stock Symbol: RAD

Website: http://www.riteaid.com

Career Site

Rite Aid is the nation's third leading drugstore chain with 5,160 stores in 31 states and the District of Columbia.

In June, the company acquired Eckerd Pharmacy and Brooks Pharmacy stores from Canadia's Jean Coutu Group for $3.4 billion. All 1,854 of the acquired stores will be renamed Rite Aid and carry Rite Aid products and services within the next year.

Seventy percent of the acquired stores are in 14 states where Rite Aid already operates, while Massachusetts, Rhode Island, North Carolina and South Carolina have been added to the company's national presence.

The 338 Brooks stores Rite Aid has acquired are located in Maine, Vermont, New Hampshire, Massachusetts, Rhode Island, Connecticut and New York. The 1,516 Eckerd stores Rite Aid has acquired are located in New York, Pennsylvania, New Jersey, Maryland, Delaware, Virginia, West Virginia, Tennessee, North Carolina, South Carolina, Georgia and Ohio. The distribution centers are located in Atlanta, GA; Charlotte, NC; Philadelphia, PA; Dayville, CT; Syracuse NY and Bohemia, NY.  Rite Aid also acquired the Brooks Eckerd corporate headquarters in Warwick, RI.

Rite Aid had revenues in fiscal 2007 of $17.5 billion and net income of $26.8 million.

The Rite Aid website is operated via a partnership with Drugstore.com.

History

Rite Aid's first store opened in September 1962 as Thrif D Discount Center in Scranton, PA. From the start, the company grew rapidly through acquisitions and the opening of new stores, expanding to five northeastern states by 1965. It was officially named Rite Aid Corporation in 1968, the same year it made its first public offering and started trading on the American Stock Exchange. In 1970, Rite Aid moved to the New York Stock Exchange.

By 1972, after ten years in business, Rite Aid operated 267 stores in 10 states. By 1981, Rite Aid had become the third largest retail drugstore chain in the country and in 1983, passed the $1 billion sales mark for the first time.

Benefits

- Health Plan
- Dental Plan
- Vision Discount Plan
- Prescription Plan
- Basic Life Insurance
- Supplemental Life and AD&D Insurance
- Dependent life insurance
- Flexible Spending Accounts
- Vacation
- Paid Holidays
- Bereavement Leave
- Disability Program
- Employee Assistance Program
- 401(k) Plan with Company Match
- Stock Purchase Plan
- Associate Discount
- Credit Union
- Direct Deposit
- Jury Duty Compensation
- Work Life Initiatives

Updated July 13, 2007