Why Rite Aid Is Down 35% in 2018 [The Motley Fool]
Rite Aid Corporation (RAD)
Last rite aid corporation earnings: 4/16 07:00 am
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US:NYSE Investor Relations:
riteaid.com/corporate/investor-relations
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Source: The Motley Fool
Find out what's kept the drugstore chain from recovering. Rite Aid ( NYSE:RAD ) has gone through monumental challenges over the past several years. Having been under threat as the No. 3 player in the drugstore retail industry, Rite Aid seemed to have reached a final solution to its difficulties by negotiating a merger deal with Walgreens Boots Alliance ( NASDAQ:WBA ) back in 2015. Only after years of delays and review did Rite Aid manage to get a severely scaled-back deal done with Walgreens in 2017 , under which Walgreens took over more than 1,900 Rite Aid store locations for $4.4 billion. Unfortunately, that left Rite Aid with the colossal task of figuring out how to handle a large amount of debt with a much smaller store base. Even as it tried to come up with a turnaround plan, Rite Aid also went back to its old playbook of trying to find a potential buyer. As it turned out, those plans worked out to be equally frustrating for Rite Aid shareholders, and the
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