Rite Aid Case Essay Sample free essay sample

Rite Aid has more than 4. 900 shops in over 30 one provinces. but it all started with merely one. September 1962. Thrif D Discount Center in Scranton. Pennsylvania opened. What started as a shop forepart. expanded efficiently. By 1965. Thrif D Discount Center had expanded to five provinces and was officially named Rite Aid Corporation. It was in this twelvemonth that the company made its first public offering and started merchandising on the American Stock Exchange. Business was booming for the company. by 1972 Rite Aid operated 267 shops in 10 provinces. By 1981. Rite Aid had become the 3rd largest retail apothecarys shop concatenation in the state. in 1983. the company had surpassed the $ 1 billion gross revenues grade for the first clip. Twenty five old ages after opening its first shop. Rite Aid had acquired 420 shops. Rite Aid has been pinnacle in acquisitions throughout its history. Thrifty PayLess Holdings. Incorporated. K A ; B. PCS Health Systems. and Brooks Eckerd are all companies that have been a portion of the overplus of Rite Aid acquisitions. We will write a custom essay sample on Rite Aid Case Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page â€Å"In January 1999. Rite Aid formed a strategic partnership with General Nutrition Companies. Incorporated. the largest forte retail merchant of vitamins. mineral addendums. athleticss nutrition and herbal merchandises. This partnership created GNC shops within Rite Aid drugstores across the state ( Rite Aid 2010 ) . † This has proven to be a matrimony made in Eden. making a carbon monoxide marketed line of vitamins and nutritionary addendums called PhamAssure sold by both companies. Rite Aid has kept up with its rivals. Walgreens and CVS. every bit good as kept up with the times by offering prescription orders online at hypertext transfer protocol: //www. riteaid. com/pharmacy/ and same twenty-four hours pickup. Rite Aid is the 3rd largest retail apothecarys shop concatenation in the United States based on grosss and figure of shops. In their shops. they sell prescription drugs and a broad mixture of other ware. which is referred to as ‘‘front-end’’ merchandises. â€Å"In financial 2009. prescription drug gross revenues accounted for 67. 2 % of entire gross revenues. It is believed that pharmaceutics operations will go on to stand for a important portion of concern due to favourable industry tendencies. including an aging population. increased life anticipation. awaited growing in the federally funded Medicare Part D prescription plan as ‘‘baby boomers’’ get down to inscribe in 2011 and the find of new and better drug therapies. Approximately 28. 000 front-end merchandises. which accounted for the staying 32. 8 % of entire gross revenues in financial 2009. are offered. Front terminal merchandises include nonprescription medicines. wellness and beauty AIDSs. personal attention points. cosmetics. family points. drinks. convenience nutrients. recognizing cards. seasonal ware and legion other mundane and convenience merchandises. every bit good as exposure processing ( Rite Aid 2010 ) . † Rite Aid’s central office is located at 30 Hunter Lane. Camp Hill. Pennsylvania and their web site is http: //www. riteaid. com/ . Their common stock is listed on the New York Stock Exchange under the trading symbol of ‘‘RAD’’ . They were incorporated in 1968 and are a Delaware corporation. One of the highlighted points contained in the Management’s Discussion and Analysis of Financial Condition and Results of Operations Overview include the fact that Rite Aid incurred a $ 2. 915. 4 million dollar net loss for financial 2009. Some cardinal factors that impacted that net loss are 1 ) a write-down of good will. 2 ) income revenue enhancement rating allowance accommodations. 3 ) shop shutting and damage charges. 4 ) LIFO charges. and 5 ) acquisition of Brooks Eckerd. Hearers from Deloitte and Touche LLP. of Philadelphia. Pennsylvania. gave Rite Aid an unqualified sentiment on their internal control over fiscal coverage. every bit good as for fiscal statements and fiscal statement agenda. Mary F. Sammons. Chairman and Chief Executive Officer. along with the remainder of Rite Aid’s Board of Directors have a program to do financial 2010 more profitable than the latter. Those programs include unlocking the value of a diverse shop base. better client trueness by bettering client and associate satisfaction. bring forth positive hard currency flow by taking unneeded costs out of the concern and bettering operating efficiencies and cut down debt by manner of the coevals of operating hard currency flow and betterments in working capital direction. By put to deathing on these ends Rite Aid feels they can better shareholder value even in a hard economic environment. Mentions Rite Aid. ( 2010 ) . Annual reports/proxy statements. Retrieved March 15. 2010. from hypertext transfer protocol: //www. riteaid. com/company/investors/anrpts/index. jsf