Friday, January 3, 2020

Is Rite Aid already headed for a turnaround?

Long a laggard in the retail pharmacy game, Rite Aid recently brought on a new CEO who believes she’s got the right medicine to cure its woes. Only four months into her tenure, things appear to be looking up.

In Rite Aid’s third-quarter earnings report on December 19, CEO Heywood Donigan announced numerous indicators of progress, including the chain’s biggest earnings increase in two years, increased year-over-year flu vaccinations and other immunizations, an increase in front-end comps (when excluding tobacco products), and better expense management and improved retiring of debt.. . . more