Rite Aid Corporation - RAD STOCK NEWS

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.

Rite Aid Corporation (NYSE: RAD) announced an amendment to its senior secured credit agreement, introducing a $2.8 billion asset-based revolving credit facility and a $350 million first-in, last-out senior secured term loan. These amended facilities extend debt maturity to August 2026, providing improved pricing for the term loan. The interest rates on the new facilities are lower than previous rates, signaling confidence from the financial community and supporting Rite Aid's strategic objectives under its RxEvolution strategy.

Rite Aid (NYSE: RAD) has announced the availability of flu vaccines at all its stores, alongside an expanded COVID-19 online scheduling tool for flu and ancillary vaccinations. This initiative aims to simplify the vaccination process as CDC warns of increased flu infection rates. Rite Aid offers various flu vaccination options, including quadrivalent and high-dose vaccines for those aged 65 and older. The online scheduling system allows customers to book appointments easily while ensuring a seamless healthcare experience, part of Rite Aid's RxEvolution strategy.

Shipt and Rite Aid have formed a partnership to provide same-day delivery of health and wellness products across 17 states. Customers can order from over 2,000 Rite Aid locations through the Shipt marketplace, with deliveries available in as little as one hour. This collaboration aims to enhance customer experience by offering over 20,000 products for health, beauty, and personal care. To celebrate the launch, a promotional discount of $10 is available for orders over $50 until August 12.

Rite Aid is set to launch its annual fundraising campaign for Children's Miracle Network Hospitals from August 1-28. This ongoing initiative supports 53 local children's hospitals and aims to raise funds for critical healthcare services and research. Over 27 years, Rite Aid has contributed more than $100 million to this cause. Customers can donate during in-store transactions, with all funds remaining local. The campaign highlights the importance of children's hospitals in addressing health challenges faced by future generations.

Rite Aid Corporation (NYSE: RAD) reported a net loss of $13.1 million, or $0.24 loss per share, for Q1 2021, with revenues increasing to $6.16 billion, up 2.2% from the previous year. Adjusted EBITDA reached $138.9 million, or 2.3% of revenues, marking strong performance in the Retail Pharmacy Segment, which saw a 5.5% revenue increase. The company delivered nearly 4.7 million COVID-19 vaccines, enhancing its community role. Looking ahead, total revenues for fiscal 2022 are predicted between $25.1 billion and $25.5 billion, while adjusted net loss per share is expected between $0.79 and $0.24.

Rite Aid (NYSE: RAD) has appointed Andre Persaud as chief retail officer, having previously served as executive vice president, retail since February 2020. Under Persaud's leadership, the company has enhanced in-store experiences and operations aligned with its RxEvolution strategy. CEO Heyward Donigan praised his strategic leadership during challenging times, especially during the COVID-19 pandemic. Persaud has extensive retail experience, managing inventory, supply chain, and developing safety protocols. He holds a pharmacy degree and an MBA from the State University of New York at Buffalo.

Rite Aid Corporation (NYSE: RAD) is set to release its financial results for the Fiscal 2022 First Quarter, ending May 29, 2021, on June 24, 2021. An analyst call will be held at 8:30 a.m. Eastern Time, featuring management remarks, and will be accessible online. A telephone replay will be available from noon on June 24 until July 24, 2021. Rite Aid operates over 2,500 retail pharmacy locations across 17 states, providing healthcare services and products to customers year-round.