Welcome to our dedicated page for Rite Aid Corporation news (Ticker: RAD), a resource for investors and traders seeking the latest updates and insights on Rite Aid Corporation stock.
Rite Aid Corporation (NYSE: RAD) operates at the forefront of integrated retail pharmacy and healthcare services, providing prescription medications, wellness programs, and pharmacy benefit management solutions. This page aggregates all official announcements, financial disclosures, and strategic developments from the company.
Access real-time updates on Rite Aid's operational milestones, including earnings reports, regulatory compliance updates, and partnerships with healthcare providers. Investors will find critical filings like 10-Q and 8-K documents alongside analyses of market positioning against competitors like CVS Health and Walgreens.
The repository covers expansions in telehealth services, PBM contract renewals, and community health initiatives. Content is curated to meet the needs of stakeholders requiring timely, accurate information for decision-making.
Bookmark this page for streamlined tracking of Rite Aid's evolving role in retail healthcare. Check regularly for updates on store network changes, leadership announcements, and responses to industry trends like digital health adoption.
Rite Aid (NYSE: RAD) announced it will provide Pfizer-BioNTech COVID-19 vaccinations for children ages 3 and over following new FDA and CDC approvals. Appointments can be made at select Rite Aid and Bartell Drugs locations starting this week. With over 16 million COVID-19 vaccinations administered, Rite Aid emphasizes the importance of immunization in preventing severe illness amid ongoing COVID variants. Parents of children under 3 are advised to consult pediatricians for vaccination options as Rite Aid focuses on expanding access to vaccines.
Rite Aid Corporation (NYSE: RAD) has launched tender offers to purchase up to
Rite Aid Corporation (NYSE: RAD) will announce its Fiscal 2023 First Quarter financial results on June 23, 2022, following the close of its fiscal period on May 28, 2022. The company's management team will conduct an analyst call at 8:30 a.m. Eastern Time, which will be accessible online. A telephone replay will be available later in the day, and the webcast will be accessible until the next call. Rite Aid operates over 2,400 pharmacy locations across 17 states and offers a range of health products and services.
Rite Aid has partnered with Homeward to enhance healthcare access in rural areas of the U.S., targeting the needs of underserved seniors. Rite Aid, with 6,300 pharmacists across 2,300 locations, aims to connect Medicare-eligible customers to Homeward's services, including wellness visits and screenings. The partnership will deploy mobile care units in select Michigan locations, with plans to expand nationwide. This initiative addresses healthcare disparities exacerbated by rural hospital closures and physician shortages, and it aims to deliver integrated, technology-enabled care.
Rite Aid (NYSE: RAD) has announced the administration of Pfizer’s COVID-19 vaccine booster for children ages 5 to 11, following CDC and FDA approval. Appointments are available through Rite Aid's scheduling tool and at select locations in Seattle and Western Washington via Bartell Drugs. Eligible children may receive a booster at least five months after their primary vaccination series. The company has administered over 16 million COVID-19 vaccinations to date, emphasizing the importance of vaccination in combating COVID-19 variants.
Rite Aid has partnered with Afterpay, becoming the first national drugstore chain to offer their 'Buy Now, Pay Later' (BNPL) service. This allows customers to purchase household essentials online and pay in four installments without extra fees when paid on time. Approximately 39% of consumers are using BNPL services more frequently due to recent economic pressures. Rite Aid plans to expand this service to its physical locations soon, targeting a younger demographic consisting mainly of Gen Z and Millennials.
Rite Aid (NYSE: RAD) has expanded access to COVID-19 oral antiviral medications, now available at nearly 98% of its pharmacies across 17 states. Patients with a prescription can access Pfizer's Paxlovid for ages 12 and up, and Merck's Molnupiravir for ages 18 and up, enhancing treatment options for those at high risk for severe COVID-19. The Chief Pharmacy Officer emphasized Rite Aid's commitment to community health and urged vaccinations, highlighting the role of these treatments not as substitutes for vaccines but as critical aids in combating severe illness.
Rite Aid Corporation (NYSE: RAD) has declined a non-binding acquisition offer from Spear Point Capital Management, citing significant deficiencies. The Board found the proposal unfeasible, lacking evidence of financing, and imposing unreasonable exclusivity terms. The proposal also contradicted existing debt terms that could trigger payments upon a change of control. Despite the rejection, Rite Aid remains committed to enhancing shareholder value through its growth strategy as a full-service pharmacy.
Rite Aid reported a net loss of $538 million, or $9.96 per share, for the fiscal year ended February 26, 2022, sharply up from $100 million the previous year.
Despite this, full-year revenues increased by $525 million to $24.6 billion, primarily driven by a 12% increase in pharmacy sales.
The company generated $379 million in operating cash flow and reduced its net debt by $212 million, resulting in an improved leverage ratio from 6.7 to 5.4 times.
Guidance for Fiscal 2023 expects adjusted EBITDA between $460 million and $500 million, supported by a cost rationalization program targeting $170 million in savings.
Rite Aid (NYSE: RAD) now offers Medicare Part B beneficiaries access to up to eight free over-the-counter COVID-19 tests each month. Starting April 4, 2022, eligible customers can obtain these tests at any Rite Aid location or online, utilizing their Medicare card. This initiative continues through the COVID-19 public health emergency. Rite Aid's commitment to community health has included providing various health tools during the pandemic, affirming its role as a key healthcare resource.
