Rite Aid sees ‘opportunity’ to close more stores in 2023
December 23, 2022
Rite Aid’s struggle to hold its ground against CVS and Walgreens was evident in the company’s $67 million quarterly loss reported on Wednesday. Speculating on more store closings — following the 145 stores the chain shuttered in 2021 — Rite Aid Exec VP and CFO Matt Schroeder told analysts on its earnings call, “It’s not nearly the size of the opportunity that we had this year. So, it’s on a much smaller scale because we have done a pretty good job in the latest last store closure program of really pruning a lot of the unprofitable stores …”
Recent News
Amazon Broadens Same-Day Pharmacy Delivery Service to New York City and Los Angeles
Amazon is looking to make prescription delivery as seamless as possible for customers in New York City and Los Angeles by adding them to the list of cities where it provides same-day pharmacy deliveries.
Fashion Enthusiasts Seek Algorithm-Free Shopping Inspiration on Substack
Substack, an online platform that provides publishing, payment, analytics, and design infrastructure to support subscription newsletters, has become the go-to destination for young fashion enthusiasts wanting to escape algorithms.
Mike Lindell’s MyPillow Evicted From Warehouse After Falling $200K Behind on Rent
The entrepreneur must vacate the property located in Shakopee, Minnesota.
Mega Millions Has a $1.13B Jackpot Winner From New Jersey
One winning ticket was sold for the Mega Millions $1.13 billion jackpot in New Jersey.