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Rite Aid, one of the largest U.S. pharmacy retailers, stumbled under its high debt, revenue declines, increased competition, and opioid litigation, according to its court filings.
Shares in Rite Aid (RAD) tanked Wednesday after the nation's third-largest drugstore chain badly missed Wall Street's fourth-quarter earnings estimate and fiscal-year outlook. If you're a high ...
Rite Aid, which once had a market cap of nearly $13 billion in 1998, filed for bankruptcy on Sunday with a market cap under $40 million. Shares were about 6% lower in premarket trading Monday ...
Rite Aid filed for Chapter 11 bankruptcy protection in New Jersey on Sunday and said it would begin restructuring to significantly reduce its debt.. The company appointed Jeffrey Stein as its new ...
On August 23, 2006, The Wall Street Journal announced that Rite Aid would acquire the U.S. subsidiary of Quebec-based Jean Coutu Group, including 1,858 Eckerd Pharmacy and Brooks Pharmacy stores, for US$3.4 billion in cash and issuing stock, which would also give Jean Coutu a 32% equity stake in Rite Aid.
ConsumerAffairs is an American customer review and consumer news platform that provides information for purchasing decisions around major life changes or milestones. [5] The company's business-facing division provides SaaS that allows brands to manage and analyze review data to improve their products and customer service.
Rite Aid already has reached several settlements, including one announced last year with the state of West Virginia for up to $30 million. In March, the U.S. Justice Department intervened in a ...
On October 27, 2015, Walgreens announced the purchase of competitor Rite Aid for $17.2 billion (equivalent to $21.6 billion in 2023). [12] [13] However, that deal was later scrapped due to antitrust concerns in favor of a $5.18 billion deal (equivalent to $6.33 billion in 2023), [12] in which Walgreens only acquired half of Rite Aid locations. [14]