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Website: http://www.riteaid.com Rite Aid is the third-largest drugstore chain in the U.S. and the largest on the East Coast. At the end of October 2011, the company operated 4,688 stores. The company has stores in 31 states and the District of Columbia with a strong presence on the East and West coasts. The company has pharmacy distribution centers in: Perryman, MD; Tuscaloosa, AL; and Woodland, CA. Rite Aid reported fiscal 2011 sales of $25.2 billion and net loss of $555.4 million. The company has lost money over the last several years. 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. In June 2007, the company acquired Eckerd Pharmacy and Brooks Pharmacy stores from Canadia's Jean Coutu Group for $3.4 billion. Benefits - Health Plan Updated November 29, 2011 |