Rite Aid is the third-largest drugstore chain in the U.S. and the largest on the East Coast.
The chain has nearly 4,600 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 2013 sales of $25.5 billion, up from $25.4 billion, and net income of $249.4 million. The company has turned a profit after several money-losing years.
In 2013, the company relocated 11 stores, acquired 1 store, remodeled 405 stores, expanded 4 stores, and closed 37 stores.
The company acquired RediClinic in April, a Houston-based operator of retail clinics.
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.
- Health Plan
Updated May 17, 2014