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Rite Aid Corp (RAD.N)

RAD.N on New York Stock Exchange

0.68USD
25 Mar 2019
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Latest Key Developments (Source: Significant Developments)

Rite Aid Announces Leadership Transition And Organizational Restructuring
Tuesday, 12 Mar 2019 

March 12 (Reuters) - Rite Aid Corp ::RITE AID ANNOUNCES LEADERSHIP TRANSITION AND ORGANIZATIONAL RESTRUCTURING.JOHN STANDLEY TO STEP DOWN AS CHIEF EXECUTIVE OFFICER.KERMIT CRAWFORD, PRESIDENT AND COO, AND DARREN KARST, CFO AND CAO, LEAVING COMPANY.KERMIT CRAWFORD, PRESIDENT AND COO, AND DARREN KARST, CFO AND CAO, LEAVING COMPANY.COMPANY EXPECTS TO GENERATE ANNUAL COST SAVINGS OF $55 MILLION THROUGH ORGANIZATIONAL RESTRUCTURING.WILL REDUCE MANAGERIAL LAYERS AND CONSOLIDATE ROLES ACROSS ORGANIZATION.STANDLEY WILL REMAIN CEO UNTIL APPOINTMENT OF HIS SUCCESSOR.RITE AID EXPECTS TO INCUR A ONE-TIME RESTRUCTURING CHARGE OF APPROXIMATELY $38 MILLION TO ACHIEVE TARGETED COST SAVINGS.TO CUT APPROXIMATELY 400 FULL-TIME POSITIONS.BRYAN EVERETT AND MATT SCHROEDER NAMED COO AND CFO, RESPECTIVELY.ABOUT TWO-THIRDS OF REDUCTIONS WILL TAKE PLACE IMMEDIATELY WITH BALANCE BY END OF FISCAL 2020.TO CUT MORE THAN 20% OF CORPORATE POSITIONS LOCATED AT COMPANY'S HEADQUARTERS AND ACROSS FIELD ORGANIZATION.ANNOUNCED LEADERSHIP TRANSITION PLAN AND ORGANIZATIONAL RESTRUCTURING TO BETTER ALIGN STRUCTURE WITH OPERATIONS AND TO REDUCE COSTS.MATT SCHROEDER, CHIEF ACCOUNTING OFFICER AND TREASURER, HAS BEEN PROMOTED TO CHIEF FINANCIAL OFFICER.SAVINGS FROM JOB CUTS TO OFFSET EXPECTED REDUCTION IN INCOME ASSOCIATED WITH OBLIGATIONS UNDER AGREEMENT WITH WALGREEN CO.  Full Article

Rite Aid And Gnc Announce Extension Of Partnership Through 2022
Tuesday, 19 Feb 2019 

Feb 19 (Reuters) - GNC Holdings Inc ::RITE AID AND GNC ANNOUNCE EXTENSION OF PARTNERSHIP THROUGH 2022.RITE AID CORP - THERE ARE APPROXIMATELY 2,200 GNC STORE-WITHIN-A-STORE LOCATIONS OPERATING IN RITE AID STORES NATIONWIDE.  Full Article

Measles-Mumps-Rubella Vaccine Available At Rite Aid Pharmacies In Washington State, Oregon
Monday, 28 Jan 2019 

Jan 28 (Reuters) - Rite Aid Corp ::MEASLES-MUMPS-RUBELLA VACCINE AVAILABLE AT RITE AID PHARMACIES IN WASHINGTON STATE AND OREGON.  Full Article

Rite Aid Announces Plans For Reverse Stock Split
Friday, 25 Jan 2019 

Rite Aid Corp ::RITE AID ANNOUNCES PLANS FOR REVERSE STOCK SPLIT.RITE AID CORP - SPECIAL MEETING OF SHAREHOLDERS TO APPROVE REVERSE STOCK SPLIT SCHEDULED FOR MARCH 21, 2019.RITE AID CORP - BOARD WILL SELECT A REVERSE STOCK SPLIT RATIO OF EITHER 1-FOR-10, 1-FOR-15 OR 1-FOR-20.RITE AID CORP - COMPANY'S REVERSE STOCK SPLIT ACTION INTENDED TO REGAIN COMPLIANCE WITH NYSE SHARE PRICE RULES.RITE AID CORP - REVERSE STOCK SPLIT WOULD NOT HAVE ANY IMPACT ON VOTING AND OTHER RIGHTS OF STOCKHOLDERS.  Full Article

Rite Aid Successfully Completes Refinancing Of Its Revolving Credit Facility
Thursday, 20 Dec 2018 

Dec 20 (Reuters) - Rite Aid Corp ::RITE AID SUCCESSFULLY COMPLETES REFINANCING OF ITS REVOLVING CREDIT FACILITY.RITE AID CORP - ENTERED INTO A NEW SENIOR SECURED CREDIT AGREEMENT, CONSISTING OF A $2.7 BILLION SENIOR SECURED ASSET-BASED REVOLVING CREDIT FACILITY.RITE AID CORP - NEW CREDIT AGREEMENT ALSO CONSISTING $450 MILLION "FIRST-IN, LAST OUT" SENIOR SECURED TERM LOAN FACILITY.RITE AID CORP - NEW $3.15 BILLION CREDIT FACILITIES REFINANCE RITE AID'S EXISTING $2.7 BILLION SENIOR SECURED ASSET-BASED REVOLVING CREDIT FACILITY.RITE AID CORP - NEW SENIOR SECURED CREDIT FACILITIES MATURE IN DECEMBER 2023.  Full Article

Provision Holding Announces Settlement Of Lawsuit Related To Rite Aid Agreement
Wednesday, 28 Nov 2018 

Nov 28 (Reuters) - Provision Holding Inc ::PROVISION HOLDING INC - SETTLEMENT OF LAWSUIT RELATED TO ITS COLLABORATION AGREEMENT WITH RITE AID.PROVISION HOLDING ANNOUNCES SETTLEMENT OF LITIGATION WITH RITE AID.PROVISION HOLDING INC - HAS BEEN AWARDED 100% OWNERSHIP OF ABOUT 650 KIOSKS THAT HAD BEEN DEPLOYED IN RITE AID STORES.PROVISION HOLDING- EXPECTS ALL KIOSKS TO BE RETURNED BY END OF 2018 &INTENDS TO REPURPOSE THESE KIOSKS, REDEPLOY THEM WITH VARIOUS RETAILERS IN 2019.  Full Article

Walgreens Boots Alliance Reports Fiscal Year 2018 Results
Thursday, 11 Oct 2018 

Oct 11 (Reuters) - Walgreens Boots Alliance Inc ::WALGREENS BOOTS ALLIANCE REPORTS FISCAL YEAR 2018 RESULTS.Q4 ADJUSTED EARNINGS PER SHARE $1.48.Q4 EARNINGS PER SHARE $1.55.Q4 EARNINGS PER SHARE VIEW $1.45 -- THOMSON REUTERS I/B/E/S.INTRODUCED GUIDANCE OF 7 PERCENT TO 12 PERCENT GROWTH IN FISCAL 2019 ADJUSTED EPS AT CONSTANT CURRENCY RATES.AT CURRENT EXCHANGE RATES THIS RESULTS IN AN ESTIMATED RANGE OF $6.40 TO $6.70 FOR FISCAL 2019 ADJUSTED EPS.INTEGRATION OF ACQUIRED RITE AID STORES IS ON TRACK.RETAIL PHARMACY INTERNATIONAL HAD Q4 SALES OF $2.9 BILLION, A DECREASE OF 1.9 PERCENT.RETAIL PHARMACY USA HAD Q4 SALES OF $25.5 BILLION, AN INCREASE OF 14.4 PERCENT OVER YEAR-AGO QUARTER.Q4 RETAIL PHARMACY INTERNATIONAL COMPARABLE PHARMACY SALES DECREASED 3.4 PERCENT ON A CONSTANT CURRENCY BASIS.QTRLY RETAIL PHARMACY USA SALES IN COMPARABLE STORES INCREASED 0.3 PERCENT COMPARED WITH SAME QUARTER A YEAR AGO.FISCAL 2019 GUIDANCE ALSO ASSUMES CONTINUED EXECUTION OF PREVIOUSLY ANNOUNCED $10 BILLION SHARE REPURCHASE PROGRAM.QTRLY SALES INCREASED 10.9 PERCENT TO $33.4 BILLION.Q4 REVENUE VIEW $33.78 BILLION -- THOMSON REUTERS I/B/E/S.FY2019 EARNINGS PER SHARE VIEW $6.45 -- THOMSON REUTERS I/B/E/S.  Full Article

International Brotherhood Of Teamsters Urges Rite Aid Corp Shareholders To Vote Against Say-On-Pay Proposal On October 30
Friday, 5 Oct 2018 

Oct 5 (Reuters) - Rite Aid Corp ::INTERNATIONAL BROTHERHOOD OF TEAMSTERS URGES RITE AID CORP SHAREHOLDERS TO VOTE AGAINST SAY-ON-PAY PROPOSAL ON OCTOBER 30 - SEC FILING.  Full Article

Rite Aid Announces Ratification Of 3-year Agreement With UFCW In Southern California
Tuesday, 2 Oct 2018 

Oct 2 (Reuters) - Rite Aid Corp ::RITE AID ANNOUNCES RATIFICATION OF THREE YEAR AGREEMENT WITH UFCW IN SOUTHERN CALIFORNIA.RITE AID CORP - ANNOUNCE RATIFICATION OF A 3-YEAR AGREEMENT WITH UFCW COVERING OVER 5,900 RITE AID ASSOCIATES.  Full Article

Rite Aid Corp - CEO John Standley's 2018 Pay Was $9.3 Mln Vs $8.1 Mln In 2017
Thursday, 27 Sep 2018 

Sept 27 (Reuters) - Rite Aid Corp ::RITE AID CORP - CEO JOHN T. STANDLEY'S 2018 TOTAL COMPENSATION WAS $9.3 MILLION VERSUS $8.1 MILLION IN 2017 - SEC FILING.RITE AID CORP SAYS BOARD HAS DECIDED TO SEPARATE THE POSITIONS OF CHAIRMAN AND CHIEF EXECUTIVE OFFICER - SEC FILING.RITE AID CORP SAYS BRUCE G. BODAKEN WILL HOLD THE POSITION OF CHAIRMAN EFFECTIVE AT THE 2018 ANNUAL MEETING OF STOCKHOLDERS.RITE AID - THREE OF CURRENT EIGHT INDEPENDENT DIRECTORS WILL NOT BE STANDING FOR RE-ELECTION AND WE ARE NOMINATING THREE NEW INDEPENDENT DIRECTORS.RITE AID CORP - BOARD FIRMLY BELIEVES THAT JOHN STANDLEY IS BEST SITUATED TO SERVE AS RITE AID'S CHIEF EXECUTIVE OFFICER.  Full Article

US STOCKS-Wall St to open higher after economic data; Boeing turns higher

* British lawmakers to vote on 'no-deal' Brexit at 3 p.m. ET (Adds comment, details; updates prices)