LYCOS RETRIEVER 
Rite Aid
built 276 days ago
The agreement with Rite Aid is the latest in the multi-state enforcement effort by attorneys general to focus on retailers that have high rates of tobacco sales to minors. Similar agreements have been reached with Walmart and Walgreens stores, and gas stations operated by Exxon-Mobil, Arco, and BP-Amoco.
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Today, Rite Aid is at a critical juncture. The company's future is riding on the success of the acquisition, the growth of its PBM business, emergence from the scandals that plagued the company in the past, and improving same store sales during the upcoming holiday season. Rite Aid is already on thin ice; it can ill-afford to put it all at risk by antagonizing its workforce.
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"Walgreens, CVS, and Rite Aid have developed real estate strategies that establish the drug store as a destination," he explained. "This created a shift in thinking among their mostly female consumer base that now tends to view the drug store as the equivalent of a convenience store," he said.
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In 1973, despite the Middle East oil embargo and ensuing recession, Rite Aid again began making acquisitions. It acquired the 49-store Thomas Holmes Corp. chain and the 50-store Warner chain, both in greater Philadelphia. The company ... set about creating distribution centers that could handle the rapidly multiplying number of Rite Aid stores. It expanded its Shiremanstown distribution center by 71,000 square feet, enabling the facility to supply up to 500 stores. The company also built an automated distribution center in Rome, New York, to handle the growing northeastern market. Rite Aid's accounting and data processing departments moved to a separate building in Shiremanstown, which became the hub of the Rite Aid complex.
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- Rite Aid is using the Eckerd/Brooks acquisition to create a second-tier, non-union workforce that will replace union workers. This will cost jobs and depress wages in the affected areas. - Over the last 10 years, Rite Aid settled more than a half-dozen lawsuits alleging consumer fraud. The charges included selling expired goods, charging higher than the advertised prices at the checkout line and overcharging the elderly and uninsured. - The most recent consumer fraud suit was filed a year ago by the state of New Jersey. - The company paid $6.7 million to settle a class action by workers who alleged that Rite Aid forced their pension fund to buy overvalued company stock.
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The move comes less than a year after Rite-Aid acquired the Eckerd pharmacy chain, which had been its main competition locally. The acquisition meant there were four Rite-Aids on Genesee Street in the city – downtown, at 1501 Genesee St. and two located near each other in the South Utica retail area.
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