Rite Aid to close stores

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In response to poor corporate performance, Rite Aid is closing up to 117 stores in a cost-cutting maneuver. The pharmacy and grocery chain will eliminate underperforming stores and locations with another Rite Aid nearby.

This news isn't all that drastic: Rite Aid has 4,874 locations nationwide, so the 117 store closings are not an abnormal number. But the closings' announcement in association with stock performance may underscore the effect the economic slowdown is having on sales.

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Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. Published by David Wertheimer. Did I miss something? Drop me a line.

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This page contains a single entry by David Wertheimer published on April 3, 2009 12:20 PM.

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