Rite Aid’s 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 CEO.
Rite Aid has released its inaugural corporate social responsibility report. The report highlights the company’s latest accomplishments with respect to the economic, environmental and social issues related to the business.
For the first quarter, Rite Aid posted a deeper net loss as the retailer continued to explore ways to drive future growth, including striking a deal with Amazon’s new Counter package pickup program.
Amazon has launched a new service, Counter, which creates a network of staffed pickup points that gives consumers the option of picking up their Amazon packages at a partner location.
Rite Aid has entered into a strategic partnership with Adobe to deliver seamless, personalized and connected health and wellness experiences for Rite Aid customers via Adobe Experience Cloud, an end-to-end solution for experience creation, marketing, advertising, analytics and commerce.
Rite Aid has named Erik Keptner to the newly created position of senior vice president and chief marketing and merchandising officer, effective June 24, 2019.
Over the Memorial Day weekend, The Rite Aid Foundation announced a three-year, $6 million commitment to Folds of Honor, a nonprofit organization that provides educational scholarships to children of military service members who have been killed or seriously wounded while serving the country.
Rite Aid said that the New York Stock Exchange (NYSE) has notified the company that it has regained full compliance with NYSE minimum average share price listing requirements.
Rite Aid’s board of directors has appointed Elizabeth Burr, who most recently served as chief innovation officer and vp/health care trend and innovation at Humana, and Katherine Quinn, who currently serves as vice chairman and chief administrative officer of U.S. Bancorp, to the company’s board.
As it continues struggling to generate profits, Rite Aid posted a net loss from continuing operations of $255.6 million, or 24 cents per share, versus a net loss of $483.7 million, or 46 cents per share, in the year-earlier period.
Rite Aid has begun a leadership transition plan and an organizational restructuring to better align its structure with the company’s operations and to reduce costs.
Rite Aid has entered into a new senior secured credit agreement, consisting of a $2.7 billion senior secured asset-based revolving credit facility and a $450 million “first-in, last out” senior secured term loan facility.
Walgreens Boots Alliance generated a solid first quarter while launching a cost management program that will look to save more than $1 billion.
First quarter net revenue at Rite Aid was up slightly as an increase in its retail pharmacy segment helped boost sales in the three month period ended December 1.
Rite Aid has named Justin Mennen svp/chief information officer.
After its failed merger attempt with Walgreens Boots Alliance, Rite Aid has been developing a standalone strategy to move forward, but still saw a net loss in the second quarter.
Rite Aid recently updated its fiscal 2019 outlook, which the company initially provided on April 12.
Albertsons and Rite Aid have mutually agreed to terminate their previously announced merger plan.
Rite Aid has sent a letter to shareholders urging their support for the pending Albertsons merger at the company’s upcoming special meeting.
As it advances its merger with Rite Aid, Albertsons posted a first quarter net loss of $17.7 million versus a net loss of $204.9 million in the year-prior period.