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Whither Rite Aid?   7 comments

Posted at 11:37 pm in commentary

4730 Forest Drive:

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6118 Saint Andrews Road

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7900 Garners Ferry Road:

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Commenter Mr. BO sends the pictures of the Garners Ferry Rite Aid, saying

I remember when this place was Rosewood Furniture which was raised to make an Eckerds, then I think it was a CVS for a short while before becoming a Rite-Aid. Now Wallgreens purchased the place. With a Wallgreens just a block away, I sort of fear for this store's future. They're not in the system yet so I can't do my prescriptions from Rite-aid's web site and the transfer function only lets you select the store across Garner's ferry from Hazelwood.

I had noticed similar signs on the Forest Acres and Irmo Rite Aid stores: This Rite Aid now has a Walgreens Pharmacy, which is rather like going to Sears and seeing a sign saying This Sears is now stocked by J C Penny.

Looking at google, and Wikipedia, what seems to have been going on is that Walgreens tried to buy the whole of Rite Aid, but the merger was not approved for anti-trust reasons, and Walgreens ended up with only about 2000 Rite Aid locations. Now, the rump Rite Aid chain is in negotiations with the Albertson grocery chain to merge with it.

What actually happens to the stores that Walgreens got is unclear. I would expect many of them to eventually be reflagged, but some of them are really too close to existing Walgreens locations, and those will probably be closed. How close is "too close"? We'll know when it happens, I suppose.

Written by ted on April 30th, 2018

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7 Responses to 'Whither Rite Aid?'

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  1. All Rite Aid stores owned by Walgreens within a mile of another Walgreens location will eventually close as a part of 700 stores closing. For now they will continue to use the Rite Aid name and products until each location is evaluated for its future.

    AmericanColumbia

    1 May 18 at 11:59 am

  2. I was told by an employee at the Rite Aid on the corner of Garners Ferry and Hallbrook, they are closing. Employees were being interviewed for possible transfers to other stores.

    Judy

    1 May 18 at 8:23 pm

  3. RAD (Rite-Aid) and WBA (Walgreens) screwed me last year. I bought RAD the day before earnings since WBA was going to buy them out. I just knew I was going to make a killing with this stock. Turns out, after the closing bell, WBA pulled out of the buyout and the RAD stock TANKED. I bought 1000 shares at 3.94 and still have it at 1.64. I am just waiting for someone else to buy them out. Either Albertsons or Kroger or hopefully someone better. Either way, I don't think I will get my money back.

    Sidney

    2 May 18 at 12:31 am

  4. Today I noticed that the Kmart at 1500 Charleston Highway had a sign welcoming Rite Aid pharmacy customers...

    At one point will someone stand up to these large mergers...I wish anti-trust laws were strengthened and oligopoly tendencies were clamped down on (it's going on in just about ever industry I feel)...

    Andrew

    4 May 18 at 8:21 pm

  5. Everyone is trying to fend off Amazon's next move. Yesterday they announced their own brand of dog food.

    Joe Shlabotnik

    4 May 18 at 9:48 pm

  6. The one on Treo Notch and Rabon Rd in Northeast is closing down

    Megan

    15 May 18 at 3:13 am

  7. I just received a notice that the Rite Aid at the corner of Garner's Ferry & Hallbrook will be closing on May 24th but the Walgreens that's just down the road will cheerfully take my prescriptions.....

    Mr BO

    18 May 18 at 3:43 pm

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