Rite Aid Corporation - RAD STOCK NEWS

The CDC has officially recommended third doses of the Pfizer-BioNTech COVID-19 vaccine for eligible populations, including those aged 65 and older, and individuals aged 18-64 with certain medical conditions. Rite Aid (RAD) is set to administer these booster shots immediately, regardless of where customers received their primary vaccinations. This initiative aligns with the CDC’s guidance, aiming to enhance protection for the most vulnerable. Rite Aid encourages all eligible individuals to either walk in or schedule appointments for vaccinations, which also include flu shots and other vaccines.

Bartell Drugs has partnered with Uber Technologies (NYSE: UBER) to enhance on-demand delivery services in the Puget Sound region. Customers can now order healthcare and grocery products from all 67 Bartell's locations via Uber Eats. This initiative ensures quick delivery and includes perks for Uber Pass and Eats Pass subscribers, such as $0 delivery on certain orders. This partnership aligns with Uber's strategy to provide convenience in shopping, reinforcing its goal to facilitate access to essential products for consumers. Bartell Drugs is owned by Rite Aid Corporation, which also expands its delivery network with Uber.

Rite Aid (NYSE: RAD) has expanded its partnership with Uber Technologies, Inc. (NYSE: UBER) to provide nationwide delivery of Rite Aid products via Uber Eats. This initiative allows customers to order essential healthcare and grocery items from 2,185 Rite Aid locations across 17 states. The service features no delivery fees for Uber Pass and Eats Pass holders, in addition to discounts on orders over $15. This collaboration aims to enhance customer convenience and reflects changing consumer shopping habits.

Rite Aid reported a 2.2% increase in revenues from continuing operations, reaching $6.11 billion for the second quarter. However, the company faced a substantial net loss of $100.3 million or $1.86 per share, compared to the previous year’s loss of $13.2 million. Adjusted net loss stood at $22 million with adjusted EBITDA at $106.2 million, down from $151.6 million a year prior. The company has improved its financial flexibility by amending its credit agreement, extending its debt maturity to 2026. Looking ahead, Rite Aid raised its fiscal 2022 adjusted EBITDA guidance.

Rite Aid (NYSE: RAD) has partnered with CLEAR (NYSE: YOU) to provide customers with a secure digital vaccine card for COVID-19 vaccinations. Customers can easily access this card via CLEAR’s app after receiving their vaccinations at Rite Aid locations. This initiative aims to facilitate proof of vaccination for various activities, particularly as requirements increase across states and businesses. Rite Aid has administered over seven million vaccinations, showcasing its commitment to community health.

Rite Aid (NYSE: RAD) announced a new corporate headquarters in Philadelphia, reflecting a remote-first work strategy. The headquarters will enhance collaboration among its over 2,800 corporate associates, who prefer remote work while desiring in-person interaction. Planned regional collaboration centers aim to facilitate meetings and training across the country. CEO Heyward Donigan emphasized this transformation highlights Rite Aid's commitment to modernizing its workforce and improving flexibility, recruitment, and work-life balance for employees.

Elixir, a subsidiary of Rite Aid (NYSE: RAD), has appointed Lance Neill as its new Chief Operating Officer. Neill brings extensive experience from his previous roles, including Vice President of Network Development at Centene, managing a $32 billion pharmacy spend. He will oversee core operations and strategic development at Elixir. CEO Heyward Donigan emphasized Elixir's importance in Rite Aid's growth strategy, highlighting Neill's qualifications to enhance operational excellence and strategic priorities.

Rite Aid Corporation (NYSE:RAD) will announce its Fiscal 2022 Second Quarter financial results on September 23, 2021, following the quarter ending August 28, 2021. An analyst call will take place at 8:30 a.m. Eastern Time, featuring comments from the management team. The call will be available via webcast, with a replay accessible at Rite Aid's Investor Relations page. Additionally, a telephone replay will be available from 12:00 p.m. ET on September 23 until 11:59 p.m. ET on October 24.

Rite Aid (NYSE: RAD) and BioReference, an OPKO Health company (NASDAQ: OPK), will provide free COVID-19 testing for New York State public school students ahead of the 2021-2022 school year. This ‘Back to School’ program allows students aged 4-17 to access RT-PCR tests at 115 Rite Aid drive-thru locations. Testing is voluntary, with results delivered digitally to parents. Governor Kathy Hochul emphasized the program's importance in combating the Delta variant and ensuring safe school environments. The initiative aligns with federal efforts to expand school testing.