Rite Aid about to file for bankruptcy...lot to discuss here

[StatUS]

Went to visit my sister this year and saw the old Rite Aid was now a liquor store in a previously dry town

 

[re'up]

Saw this coming, read in the WSJ it lost 250 million last year

plus, I go to one by my house, despite how much I hate it, because it's so badly run, sometimes theres no customers, sometimes there's 15 and one cashier

locks on the detergent

I honestly don't really understand how CVS and Rite Aid make money, besides real estate holdings and health care. Alcohol too. The margins on all that junk they sell is so low, and people don't shop in those spots anymore, they rather use Amazon.

 

[zayk35]

It seems like CVS and Rite Aid have been on their last legs for some time now. The only activity I see inside is usually only in the pharmacy area. They be empty as hell, and hella outdated inside with hardly any real inventory. It's time for them to go away

 

[maxamusa]

OP post when the pharmacy clearance pops off

 

[thelonious21]

If I’m not mistaken Walgreens is owned by some huge medical company (or maybe it’s the other way around)

They bout to turn all them shyts into just little urgent care type clinics…and just keep the pharmacy’s

So they get all the money

going to the doctor, getting a prescription and being able to pick it up in the same facility is easy money

Aetna

And it's CVS

 

[Prodyson]

If I’m not mistaken Walgreens is owned by some huge medical company (or maybe it’s the other way around)

They bout to turn all them shyts into just little urgent care type clinics…and just keep the pharmacy’s

So they get all the money

going to the doctor, getting a prescription and being able to pick it up in the same facility is easy money

Sounds like an HMO, lol

 

[Canada Goose]

Rite Aid was the spot back in the day. It’s where I got my first Source magazine and my sister used to get issues of Word Up and Right On. Their magazine section was undefeated


They been trash for what feels like two decades tho

I used the read the Hip Hop and Wrestling magazines in the store without buying them

 

[RennisDeynolds]

What the hell is new York gonna do, isn't there rite aid all over the place in the city?


Anyways I fukk with Walgreens. They've got the coupons and savings. CVS I stay away from bc they are expensive

 

[shopthatwrecks]

WSJ News Exclusive | Rite Aid Prepares Bankruptcy That Would Halt Opioid Lawsuits

Rite Aid is preparing to file for bankruptcy in coming weeks to address mass lawsuits over the drugstore chain’s alleged role in the sale of opioids, according to people familiar with the company’s plans.

www.wsj.com

A company of their scope having $136mm in cash equivalents to that much debt with pending lawsuits is CRAZY

The opioid settlement has to be one of the biggest gaffles ever...nobody is getting compensated. What really sucks is that Rite Aid bought so many local and reigional drug stores, like Bartells here in Seattle, managed them like absolute dog shyt, made them all the same level of trash inventory management, everything behind glass, KIND OF DIRTY, understaffed, etc...and they're clearly at risk. Access to medicine is important. This company is in a death spiral.

When I first moved up to the northwest I tripped out how rite aid useta Id me for coug syrup


I can buy wine n cancer sticks but god forbid I want some tussin

 

[RennisDeynolds]

U see how they suing rite-aid, Walgreens, Cvs and other retailers because white people are the main ones dying from drugs….

Business was as usual in the 80s and 90s when black homes was getting destroyed because drugs the.government was pushing in.. where’s our lawsuits

Well no one was going to the pharmacy and getting scripts for ready rock. But thank yall republicac gawd Regan for dropping it off

 

[BmoreGorilla]

I used the read the Hip Hop and Wrestling magazines in the store without buying them

I did the same. Also the car magazines that had topless hoes laying across the hoods

 

[omnifax]

A few years ago...definitely pre COVID...

I used to walk in Rite Aid sometimes and look at their prices as well as the overall cleanliness and order of their stores and wonder how the fukk that company was still operating.

Writing was on the wall then...feels like CVS is next...

Not at all. CVS is becoming unstoppable at this point. They own the biggest PBM in AETNA (in addition to Caremark) and they are gonna start making biosimilars with a big generic manufacturer. This means they control 3 huge aspects of the pharmacy industry now in distribution, billing and manufacturing. They got dropped from blue shield CA in favor for Amazon and Mark Cubans pharmaceutical company and they basically Kanye shrugged and said it don't matter cause those companies can't scale like they can.

As far as Rite Aid goes I'm really amazed how long they've been able to hold on. I started Walgreens in the late 90's as a teenager and there were talks back then of them being on their last leg. I don't know what their secret has been besides maybe being the only big chain in town in certain areas of the country. This makes me think Walgreens might be next cause they got hit bad with the opioid lawsuits as well on top of all the decline in their front end business.

 

[GzUp]

Their pharmacy is the only thing keeping them going

 

[RehReh]

Good because they owe me $62

 

[TheMailMan]

Rite aid sucks. Always a long line and only 1 cashier working. Always gotta call someone up. And the one I go to , everything is locked up so you gotta call someone for that too . Should rename it to wrong-aid lol