A little over 5 years ago, Rite-Aid stock was trading at 22 cents and rumors were swirling that they would be bought out by the other major chains. They were always considered the doormats of the drug store industry.
As Twain was purported to have said (but didn’t actually say), rumors of their death were greatly exaggerated. Today they appear to be alive and well, although they do still have over $5 billion in long-term debt. In December they reported a 46% increase in net income (104.8 million over 71.1 million) and their stock has slowly climbed up over $7.00. Still a long way to go but with stores being remodeled and sales climbing they may be around for a while as the nation’s 3rd largest drug chain.
Here’s some photos of one of their “Wellness” remodels. Oh, and they do still have Thrifty Ice Cream!!
