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Rite Aid Corporation (NYSE: RAD) announced a restructuring of its management team aimed at streamlining operations and reducing costs. The changes include the elimination of the COO position, leading to the departure of Jim Peters and Jocelyn Konrad. Karen Staniforth, previously Senior VP, will now serve as Chief Pharmacy Officer. Andre Persaud will oversee field and front-end pharmacy operations. The adjustments are part of Rite Aid's strategy to enhance its pharmacy services and engage better with customers, according to CEO Heyward Donigan.
Rite Aid (NYSE:RAD) has launched Rite Aid Rewards, a new customer loyalty program enhancing shopping experiences and rewards. Members earn points for purchases and prescriptions, convert them into BonusCash, and enjoy personalized challenges. For every $1 spent, members gain 10 points, redeemable at 1,000 points for $2. The program replaces the previous wellness+ Rewards and provides members-only pricing, instant promotions, and special benefits for seniors. Current wellness+ customers are automatically enrolled, with their BonusCash remaining intact.
Bartell Drugs, a subsidiary of Rite Aid Corporation (NYSE: RAD), has partnered with Higi, a subsidiary of Babylon (NYSE: BBLN), to introduce enhanced health self-screening stations across 50 Bartell's locations in the Puget Sound area. These stations provide free assessments for various health risks, including hypertension and diabetes, and promote health awareness and education. This initiative coincides with National Heart Month and builds on a five-year partnership between Rite Aid and Higi, aimed at empowering customers to manage their health more effectively.
Rite Aid is now offering free N95 masks at many locations nationwide, with expectations to be available at most stores this week. Customers can pick up three masks each while supplies last. Additionally, Rite Aid has increased availability of at-home COVID-19 test kits, which are now reimbursable through private health insurance. The company has administered over 14 million COVID-19 vaccinations and continues to promote vaccination and booster shots as crucial in combating the pandemic.
Rite Aid Corporation (NYSE: RAD) reported a third-quarter revenue increase of 1.8% to $6.23 billion but faced a net loss of $36.1 million, or $0.67 per share, compared to a net income of $4.3 million, or $0.08 per share, last year. Adjusted EBITDA rose 12.7% to $154.8 million. The firm has initiated a store closure program, targeting 63 stores for closure, aiming for an annual EBITDA benefit of about $25 million. Due to strong momentum, Rite Aid raised its fiscal 2022 Adjusted EBITDA guidance to between $500 million and $520 million.
Rite Aid Corporation (NYSE: RAD) announced it will release its Fiscal 2022 Third Quarter financial results on December 21, 2021. An analyst call will take place at 8:30 a.m. ET, featuring management's remarks, and will be available via webcast on its investor relations website. A replay of the call will be accessible from 12:00 p.m. ET on the same day until 11:59 p.m. ET on January 21, 2022.
Rite Aid operates over 2,500 pharmacy locations across 17 states, focusing on providing affordable healthcare services.
The Rite Aid Foundation is granting
On November 2, 2021, the CDC authorized the emergency use of the Pfizer-BioNTech COVID-19 Vaccine for children aged 5-11, a lower-dose version intended for their safety. This vaccine is administered in a two-dose series with doses spaced three weeks apart. Rite Aid is set to begin administering these vaccines on November 6 at select locations, as doses become available. Appointments can be scheduled from November 4 via their website.
Rite Aid Corporation (NYSE: RAD) announced that executives Heyward Donigan, Jim Peters, and Matt Schroeder will participate in a fireside chat with investors at the 30th Annual Credit Suisse Healthcare Conference on Wednesday, Nov. 10 at approximately 9:40 a.m. ET. The conference will be a virtual event, streamed online at https://investors.riteaid.com. Rite Aid operates over 2,500 retail pharmacy locations across 17 states, delivering healthcare services and products year-round.
The CDC has officially recommended third doses of the Pfizer-BioNTech COVID-19 vaccine for eligible populations, including those aged 65 and older, and individuals aged 18-64 with certain medical conditions. Rite Aid (RAD) is set to administer these booster shots immediately, regardless of where customers received their primary vaccinations. This initiative aligns with the CDC’s guidance, aiming to enhance protection for the most vulnerable. Rite Aid encourages all eligible individuals to either walk in or schedule appointments for vaccinations, which also include flu shots and other vaccines.
