Rite Aid
Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania. It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. It is the third-largest drugstore chain in the United States, with over 2,000 stores, and ranked No. 148 in the Fortune 500 in 2022.
A Rite Aid store in Glendale, California | |
| Formerly | Thrift D Discount Center (1962–1968) |
|---|---|
| Company type | Public |
| OTC Pink: RADCQ NYSE: RAD (1970–2023) | |
| Industry | Retail |
| Founded | September 12, 1962 In Scranton, Pennsylvania, United States |
| Founder | Alex Grass |
| Headquarters | Philadelphia, Pennsylvania, United States |
Number of locations | 2,271 (2023) |
Key people |
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| Products | Pharmacy, grocery store, liquor store |
| Revenue | US$24.04 billion (FY2021) |
| US$47.14 million (FY2021) | |
| US$−90.9 million (FY2021) | |
| Total assets | US$9.335 billion (FY2021) |
| Total equity | US$615.2 million (FY2021) |
Number of employees | 50,000 (2021) |
| Subsidiaries | Bartell Drugs |
| Website | www |
After several years of growth, Rite Aid adopted its current name and debuted as a public company in 1968. Rite Aid was publicly traded on the New York Stock Exchange under the symbol RAD. In October 2023, the company filed for Chapter 11 bankruptcy, due to a large debt load and thousands of lawsuits alleging involvement in the opioid crisis.
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