Rite Aid Corporation - RAD STOCK NEWS

Rite Aid (NYSE: RAD) has commenced administering the COVID-19 vaccine across its 2,500 stores in 17 states, following federal guidance allowing those aged 16 and older to get vaccinated. The company promotes appointment scheduling while also offering limited walk-in vaccinations to cater to individuals without internet access. Rite Aid's pharmacists are prepared to administer the Moderna, Pfizer-BioNTech, and Johnson & Johnson vaccines, enhancing community health efforts. For more details, visit www.RiteAid.com/covid-19.

Rite Aid Corporation (NYSE: RAD) announced the redemption of all $90.8 million of its 6.125% Senior Notes due 2023, effective May 28, 2021. The redemption price includes the principal amount plus any accrued interest. Funding for this redemption will be sourced from borrowings under Rite Aid's existing credit facility. The Bank of New York Mellon Trust Company, N.A. is handling the notice of redemption for registered holders. This move comes as Rite Aid continues to focus on its healthcare services and retail pharmacy operations across 2,500 locations.

Rite Aid Corporation (RAD) reported a net loss of $18.5 million for Q4 FY2021, translating to $0.34 per share, amid challenges from a weak cough, cold, and flu season. However, revenues grew by 3.3% in Q4 and 9.6% for the fiscal year, reaching $5.9 billion and $24 billion, respectively. Adjusted EBITDA fell to $41.3 million, representing 0.7% of revenues. Despite the losses, Rite Aid's vaccination drive surpassed 2 million doses, reflecting positive prescription trends. For Q1 FY2022, revenues are projected between $6.1 billion and $6.3 billion, with same-store sales expected to decrease by 7-9%.

Rite Aid Corporation (NYSE: RAD) faced significant challenges in its fourth quarter of fiscal 2021, marking a soft cough, cold, and flu season alongside ongoing COVID-19 impacts. The company expects a revised revenue forecast of approximately $24.0 billion with a net loss between $90 million and $100 million. Adjusted EBITDA is anticipated to be between $425 million and $435 million. The overall unanticipated impact on the quarter was approximately $50 million to $60 million. Despite these hurdles, Rite Aid is ramping up COVID vaccine administration, aiming to restore acute prescription levels.

Rite Aid has extended the priority COVID-19 vaccine scheduling for teachers, school staff, and childcare providers following a directive from the U.S. Department of Health and Human Services. Eligible groups can schedule appointments on March 19, 20, 26, and 27. The eligible individuals include educators from pre-K to 12th grade, childcare workers, and Head Start staff. Other eligible individuals may book appointments throughout March. Rite Aid continues its commitment to support the vaccination effort and protect communities as the pandemic evolves.

Rite Aid (NYSE: RAD) is enhancing its commitment to reduce toxic chemicals in its products, aligning with its RxEvolution strategy. Key initiatives include the introduction of a restricted substance list for food-contact materials, increased ingredient transparency from suppliers, and consumer-friendly labeling for cleaner product attributes. Rite Aid reports achieving 98% compliance in eliminating eight high-concern chemicals from its own brand products. The company continues to monitor compliance using automated screening through the WERCSmart platform and will report on progress in its annual CSR report.

Rite Aid has become an inaugural participant in the Federal Retail Pharmacy Program, starting today. The program will ensure federal health authorities control vaccine dose allocations while local jurisdictions define eligibility. Rite Aid pharmacies in California, Michigan, New Jersey, Ohio, Pennsylvania, Philadelphia, and New York City will initially receive 100 doses per store weekly. The company aims to provide vaccinations at over half of its locations and expand as supply increases. CEO Heyward Donigan emphasizes the importance of this initiative to combat COVID-19 amid high demand and limited supply.

Rite Aid (NYSE: RAD) is launching no-cost COVID-19 self-swab testing at 441 new drive-through locations, effective February 12, increasing access in 11 states. This expansion is part of a collaboration with the U.S. Department of Health and Human Services. Testing will utilize PCR methods, overseen by Rite Aid pharmacists, and is available to individuals aged four and older. Customers must pre-register online to secure testing appointments. Rite Aid is enhancing its COVID-19 testing capacity as vaccination efforts ramp up.

Rite Aid (NYSE: RAD) is enhancing its no-charge COVID-19 testing service by launching 317 new drive-through testing sites across New Jersey, New York, and Pennsylvania, starting February 5. These sites will utilize PCR self-swab tests supervised by pharmacists, operating Monday to Friday from 10 a.m. to 8 p.m. and weekends from 10 a.m. to 5 p.m. Testing is available to individuals aged four and older, regardless of symptoms, in line with CDC guidelines. Rite Aid now has a total of 777 testing locations across 16 states.