Profile
Sector:
HealthcareIndustry:
Pharmaceutical RetailersCountry:
United StatesIPO:
17 March 1980Website:
http://www.riteaid.comNext earnings report:
N/ALast dividends:
14 October 1999Next dividends:
N/ADividend
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RAD Latest News
Rite Aid has announced a leadership transition as it emerges from Chapter 11 bankruptcy. Jeffrey S.
Rite Aid has selected long-time company executive Matt Schroeder as the company's new chief executive officer as the company exits federal bankruptcy protection.
Rite Aid said the proceedings would involve continued store footprint optimization.
Rite Aid Corp. RADCQ, -0.31% said Tuesday it has reached a settlement with the Federal Trade Commission after the agency alleged the retail chain falsely tagged consumers, particularly women and people of color, as shoplifters. Rite Aid will be banned from using facial-recognition technology for surveillance for five years as part of the settlement.
The Federal Trade Commission said Rite Aid will be "prohibited from using facial recognition technology for surveillance purposes for five years" as part of a settlement of charges that the retailer failed to deploy such technology without “reasonable safeguards.”
Rite Aid sued the U.S. Department of Justice on Thursday, seeking to stop a lawsuit alleging that the bankrupt pharmacy chain ignored red flags and illegally filled hundreds of thousands of prescriptions for addictive opioid medication.
Executives in any business can learn from the pharmacy giant's collapse.
These pharmacy retailers have a lot in common, as both have struggled to stay out of the red. Walgreens remains unprofitable, but it is making efforts to reduce even more costs.
So far this year, companies filing for bankruptcy are twice that of 2022, and a hair short of pandemic 2020. The biggest group of filers: consumer-discretionary companies, like Rite Aid.
Walgreens Boots Alliance Inc (NASDAQ:WBA) has agreed to pay $192.5 million to settle a class action lawsuit brought on by Rite Aid (NYSE:RAD) investors, according to a deal filed in Pennsylvania federal court on Wednesday. The deal is subject to approval by District Judge Jennifer Wilson.
What type of business is Rite Aid?
Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. The company operates through two segments, Retail Pharmacy and Pharmacy Services. The Retail Pharmacy segment sells prescription drugs and provides various other pharmacy services and an assortment of products comprising over-the-counter medications, health and beauty aids, personal care products, seasonal merchandise, cosmetics, household items, food and beverages, greeting cards, seasonal and seasonal merchandise, pet care, and a variety of other everyday and convenience products, as well as brand and generic prescription drugs; and a private brand product line. It also operates retail pharmacies and clinics; and offers healthcare services, including administering immunizations for COVID-19, the flu, shingles, and others; assists its customers with high blood pressure, cholesterol, and diabetes; provides guidance on combating obesity and tobacco addiction; and educates customers on managing medications and potential side effects. The Pharmacy Services segment provides integrated suite of pharmacy benefit management (PBM) offerings, including technology solutions, mail delivery services, specialty pharmacy, network and rebate administration, claims adjudication, and pharmacy discount programs, as well as drug benefits under the federal government's Medicare Part D program and insurance offerings for individuals and groups. This segment serves health plans, commercial employers, labor groups, and state and local governments. In addition, it offers its products through online retail site. Rite Aid Corporation was founded in 1962 and is headquartered in Philadelphia, Pennsylvania.
What sector is Rite Aid in?
Rite Aid is in the Healthcare sector
What industry is Rite Aid in?
Rite Aid is in the Pharmaceutical Retailers industry
What country is Rite Aid from?
Rite Aid is headquartered in United States
When did Rite Aid go public?
Rite Aid initial public offering (IPO) was on 17 March 1980
What is Rite Aid website?
https://www.riteaid.com
Is Rite Aid in the S&P 500?
No, Rite Aid is not included in the S&P 500 index
Is Rite Aid in the NASDAQ 100?
No, Rite Aid is not included in the NASDAQ 100 index
Is Rite Aid in the Dow Jones?
No, Rite Aid is not included in the Dow Jones index
When was Rite Aid the previous earnings report?
No data
When does Rite Aid earnings report?
Next earnings report date is not announced yet