Rite Aid Corporation Stock Price, News & Analysis

Rite Aid Corporation (NYSE: RAD) announces participation in the 39th Annual J.P. Morgan Healthcare Conference on January 11th, at 11:40 a.m. ET. The event will feature key executives, including CEO Heyward Donigan, COO Jim Peters, and CFO Matt Schroeder, engaged in a virtual fireside chat with investors. Interested parties can view the broadcast online at Rite Aid's Investor Relations page.

Rite Aid serves over 1.6 million customers daily through 2,400 pharmacy locations and holds pharmacy benefits for approximately 4 million members.

Rite Aid (NYSE: RAD) is expanding its no-charge COVID-19 testing services by adding 99 new drive-through locations in partnership with the U.S. Department of Health and Human Services, bringing the total to 400 testing sites across 16 states. These locations will utilize self-swab nasal tests overseen by pharmacists and provide testing for individuals aged 13 and older. Appointments can be made online, and parental consent is required for minors. Rite Aid collaborates with Verily for scheduling and BioReference Laboratories for testing.

Rite Aid Corporation (NYSE: RAD) reported its third fiscal quarter results, ending November 28, 2020, with net income of $4.3 million ($0.08 per share) and adjusted net income of $21.6 million ($0.40 per share). Revenues increased by 12% year-over-year to $6.12 billion, driven by growth in both Retail Pharmacy and Pharmacy Services segments. However, adjusted EBITDA fell to $137.4 million (2.3% of revenues) compared to $158.1 million (2.9% of revenues) in the previous year. The company narrowed its fiscal 2021 guidance, expecting revenues between $23.9 billion and $24.2 billion, with a net loss of $89 million to $114 million.

Rite Aid customers have collectively donated over $100 million to Children’s Miracle Network Hospitals through the Miracle Balloon Campaign over 26 years. In the latest campaign, they raised $1.9 million during an eight-week period across 2,400 stores. Additionally, The Rite Aid Foundation will contribute $3.5 million in grant funding to support 53 hospitals in its service area. Rite Aid is one of seven corporate partners to exceed this milestone, underlining its commitment to improving children's health during the COVID-19 pandemic.

Rite Aid Corporation (NYSE: RAD) will announce its Fiscal 2021 Third Quarter financial results on December 17, 2020, following the quarter ending on November 28, 2020. An analyst call led by management will take place at 8:30 a.m. Eastern Time, available for live streaming online. A replay of the call can be accessed via telephone starting at 12 p.m. on the same day until January 16, 2021. Rite Aid serves over 1.6 million customers daily through 2,400 locations across 18 states, also offering pharmacy benefits to around 4 million members via Elixir.

The Rite Aid Foundation has announced a $2 million grant initiative to support health and wellness programs for children, partnering with Girls on the Run International and SeriousFun Children’s Network. Each organization will receive $1 million to enhance their programs amid the challenges posed by the COVID-19 pandemic. Collectively, these organizations serve over 275,000 children annually, focusing on improving health and building resilience. This funding builds upon a previous $7 million allocation aimed at supporting various community needs during the pandemic, highlighting Rite Aid's commitment to addressing health disparities.

Rite Aid (NYSE: RAD) has launched a brand refresh, emphasizing its commitment to merging traditional medicine with alternative remedies. This includes a new logo, enhanced digital experiences, and a 'Store of the Future' concept. The initiative is part of the RxEvolution strategy, targeting Millennials and Gen X women. Rite Aid is enhancing its services by empowering pharmacists to act as whole health advocates. A modernized online platform and partnerships for delivery options have also been introduced, aligning with a growing demand for health-focused products.

Rite Aid (NYSE: RAD) has partnered with Quotient to enhance its digital media capabilities through the launch of Rite Aid Performance Media. This initiative aims to connect brands with Rite Aid's digital customers, enabling targeted media campaigns to drive both in-store and online sales. Additionally, Rite Aid will utilize Quotient's Retailer iQ platform for delivering digital coupons. The collaboration is expected to create a new revenue stream and provide personalized shopping experiences, benefiting customers and brand partners alike.