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Rite Aid Wiki/Bio
Rite Aid Corporation, founded in Camp Hill, Pennsylvania, is an American drugstore company. Alex Grass launched Thrift D Discount Center in Scranton, Pennsylvania in 1962. The firm was placed 150th on the Fortune 500 list of the top US firms by total sales in 2020. Camp Hill, Pennsylvania, near Harrisburg, is the company’s headquarters. Rite Aid is the third biggest drugstore chain in the United States and the largest on the East Coast. Rite Aid originally opened its doors in 1962 in Scranton, Pennsylvania, under the name Thrift D Discount Center. After several years of expansion, Rite Aid changed its name and became a publicly traded business in 1968. After marrying into the Lehrman family of Harrisburg, Pennsylvania, in the early 1950s, Alex Grass started the Rite Aid network in Scranton, Pennsylvania, in September 1962. Thrift D Discount Center was the first location. In 1965, the shop expanded into five more states before becoming public as Rite Aid in 1968. In 1970, it relocated to the New York Stock Exchange. Rite Aid is one of the Fortune 500’s largest companies in the United States. Rite Aid has 267 sites in ten states ten years after its first shop opened. Rite Aid became the country’s third-largest retail pharmacy business in 1981. $1 billion in sales was reached in 1983. A 420-store purchase on the east coast brought Rite Aid’s total number of outlets to almost 2,000. In 1984, the company was brought to Michigan through a series of acquisitions. Muir Drug and Remes Drug of Grand Rapids, Michigan, as well as Lippert Pharmacy of Lowell and Herrlich Drug of Flint, were among them; a year later, Rite Aid acquired State Vitamin and established outlets in Lansing, Michigan. Rite Aid purchased Thrifty PayLess, a 1,000-store West Coast business, in 1996. The Northwest-based Bi-Mart membership discount stores were sold off in 1998 as part of the Thrifty PayLess transaction. Rite Aid entered the Gulf Coast area after acquiring Harco, Inc. and K&B, Inc. Rite Aid teamed up with Carl Paladino’s Ellicott Development Co. in the 1990s to boost its footprint in upstate New York.
The Wall Street Journal reported on August 23, 2006 that Rite Aid will pay US$3.4 billion to Jean Coutu for 1,858 Eckerd Pharmacy and Brooks Pharmacy shops. The transaction was completed on June 4, 2007. The two chains will be transformed to the Rite Aid moniker, with the 109-year-old Eckerd banner being retired. All remaining Eckerd stores were converted to Rite Aid by the end of September 2007, after the transaction was signed and finalised on June 4, 2007. EnvisionRx, a pharmacy benefit manager that owns subsidiary PBMs MedTrak, Connect Health Solutions, and Smith Premier Services, was bought by Rite Aid in 2015. In January 1999, General Nutrition Corporation (GNC) and Rite Aid partnered to put GNC mini-stores within Rite Aid pharmacies. In June 1999, Rite Aid announced a collaboration with drugstore.com that allowed consumers to obtain medical prescriptions online for same-day pickup in-store. In June 2019, Amazon announced that customers would be able to pick up their orders at dedicated counters within more than 100 Rite Aid shops across the United States. Counter is the latest service, which follows its success in the UK with the Next apparel chain and in Italy with Giunti Al Punto Librerie, Fermopoint, and SisalPay businesses. Rite Aid had a bad year in the late 1990s, and its shares plummeted from $30 to $4.40. Leonard Green, of Leonard Green & Partners, hired Mary Sammons of Fred Meyer to be President/COO at this time. In 2003, she was promoted to CEO. Rite Aid promised in July 2001 to enhance their pharmaceutical complaint procedure by creating a new consumer complaint response programme. Rite Aid agreed to pay $7 million to resolve charges that it had filed fake prescription claims to US government health insurance programmes on July 25, 2004.
The New York Times stated on December 21, 2007, that despite the acquisition of the Brooks and Eckerd chains, Rite Aid suffered a record-breaking loss that year. As Rite Aid began the integration process, the next fiscal quarter witnessed a rise in sales but a dramatic drop in net profits. Between September 2007 and September 2008, Rite Aid stock dropped by more than 75%, ending at $0.98 on September 11, 2008. Rite Aid’s stock fell to $0.20 on March 6, 2009, an all-time low as of December 4, 2018.
A huge accounting fraud at Rite Aid resulted in the dismissal (and eventual imprisonment) of several top executives, including CEO Martin Grass. In June 2010, John Standley was elevated from Chief Operating Officer to Chief Executive Officer, with former CEO Mary Sammons remaining as Chairperson; Ken Martindale, a former Pathmark co-President, was named Chief Operating Officer. In October 2018, a former Rite Aid vice president of advertising and two Nuvision Graphics Inc. co-owners pled guilty to defrauding Rite Aid with a $5.7 million kickback scam. Rite Aid had adopted facial recognition video surveillance systems and components from FaceFirst, DeepCam LLC, and other suppliers at selected retail locations in the United States throughout the 2010s, according to the Reuters news agency in July 2020. Rite Aid’s vice president of asset protection, Cathy Langley, used the term “feature matching” to describe the systems, which is a technical term for the process of image feature extraction in the field of artificial intelligence for video surveillance, and said that using the systems resulted in less violence and organised crime in the company’s stores, while former vice president of asset protection, Cathy Langley, said that using the systems resulted in less violence and organised crime in the company’s stores.
Rite Aid’s surveillance programme was either the largest or one of the largest in retail, according to director Read Hayes of the National Retail Federation Loss Prevention Research Council, which dubbed face recognition technology “a potential new tool” worth studying in 2018. Other US hops with face recognition technology pilot projects or deployments include Home Depot, Menards, Walmart, and 7-Eleven. Reuters found that retailers in towns with the largest racial or ethnic group were three times more likely to have the equipment installed, raising worries about the country’s long history of racial segregation. Rite Aid’s surveillance programme was either the largest or one of the largest in retail, according to director Read Hayes of the National Retail Federation Loss Prevention Research Council, which dubbed face recognition technology “a potential new tool” worth studying in 2018. Other US hops with face recognition technology pilot projects or deployments include Home Depot, Menards, Walmart, and 7-Eleven. Reuters found that retailers in towns with the largest racial or ethnic group were three times more likely to have the equipment installed, raising worries about the country’s long history of racial segregation.
|Rite Aid Contact Address, Phone Number, Email ID, Website|
|Phone Number||Not Known|
|House address (residence address)||Camp Hill, Pennsylvania, United States|
Rite Aid Contact Details
Rite Aid Contact Details: NA
Rite Aid Address: Camp Hill, Pennsylvania, United States
Rite Aid Phone Number: NA
Rite Aid Whatsapp Number: NA
Rite Aid Office Email ID: NA
Rite Aid Social Profiles
Rite Aid Facebook Fan Page: https://www.facebook.com/riteaid/
Rite Aid Twitter Handle: https://twitter.com/riteaid?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Rite Aid Instagram Profile: https://www.instagram.com/riteaid/?hl=en
Rite Aid Snapchat Profile: NA
Rite Aid YouTube Channel: https://www.youtube.com/riteaid