|Bid||1.66 x 900|
|Ask||1.67 x 39400|
|Day's range||1.66 - 1.69|
|52-week range||1.38 - 4.21|
|PE ratio (TTM)||1.85|
|Earnings date||20 Sep 2017 - 25 Sep 2017|
|Forward dividend & yield||N/A (N/A)|
|1y target est||2.00|
Rite Aid Corporation (RAD) today announced that it has issued a notice of redemption (the “Redemption”) for all $805,169,000 aggregate principal amount of its outstanding 6.75% Senior Notes Due 2021 (CUSIP No. 767754CG7) (the “Notes”) on June 25, 2018 (the “Redemption Date”). Rite Aid is one of the nation’s leading drugstore chains with fiscal 2018 revenues of $21.5 billion. Information about Rite Aid, including corporate background and press releases, is available through the company’s website at www.riteaid.com.
As part of its commitment to improving the lives of children in communities served by Rite Aid, The Rite Aid Foundation announced today the launch of its KidCents Regional Grant Program. The new program, designed to support nonprofit organizations that serve children, will award grants ranging from $15,000 - $30,000. “The Rite Aid Foundation is committed to improving the health and well-being of children and creating a safe environment for them to live and grow,” said Tracy Henderson, director of The Rite Aid Foundation and charitable giving initiatives.
Rite Aid Corporation (RAD) today announced the results of its previously announced offer to purchase (the “Asset Sale Offer”) up to $700,000,000 of certain of its outstanding indebtedness, consisting of its outstanding 6.75% Senior Notes due 2021 (the “2021 Notes”) and 6.125% Senior Notes due 2023 (the “2023 Notes” and, together with the 2021 Notes, the “Notes”) for cash at a price equal to 100% of the principal amount of the Notes, equivalent to $1,000 per $1,000 principal amount of Notes, plus accrued and unpaid interest, for such Notes up to the date of purchase. As of 5:00 P.M., Eastern Time, on May 21, 2018 (the expiration date with respect to each series of Notes), $1,360,000 principal amount of the 2021 Notes, representing 0.17% of the outstanding principal amount of the 2021 Notes and $4,759,000 principal amount of the 2023 Notes, representing 0.27% of the outstanding principal amount of the 2023 Notes, had been validly tendered and accepted for purchase by Rite Aid.
Rite Aid Corporation (RAD) announced today that DisposeRx, a first-of-its-kind opioid disposal solution, is now available at all of Rite Aid’s more than 2,500 pharmacies across the United States. DisposeRx packets contain a biodegradable powder that, when mixed with water in the prescription vial, dissolves drugs, forming a viscous gel which may be safely discarded in the trash. “DisposeRx packets are an innovative and easy-to-use drug disposal solution and as one of the nation’s leading drugstores, Rite Aid is excited to offer this solution to our patients at no cost,” said Jocelyn Konrad, Rite Aid executive vice president of pharmacy.
The Rite Aid Foundation announced today that Cathryn Tames, Executive Director of the Children’s Developmental Center in Richland, Washington, has been awarded its KIDCHAMPSM Award for her tireless work over the past 30 years to support children with disabilities and developmental challenges. Ms. Tames will be recognized today at 10 a.m. during a special presentation at the Children’s Developmental Center located at 1549 Georgia Avenue SE in Richland. In recognition of her service, Ms. Tames will receive a $10,000 donation to the Children’s Developmental Center and $500 in Rite Aid gift cards to continue advancing its work to improve the health and well-being of children served by the organization.
In response to the nation’s opioid epidemic, pharmacy benefit manager, EnvisionRx, a division of EnvisionRxOptions, announced enhancements to its comprehensive opioid and pain management program, EnvisionCare Pain Management. Available immediately, the program includes pre-emptive prescription strategies, such as limiting first-time fills to seven days*, prior authorizations on certain medications, and shortened windows to refill prescriptions. This comprehensive program aligns with the healthcare company’s overall pain management strategy, as well as the guidelines set by the Centers for Disease Control and Prevention (CDC).
As Rite Aid and Albertsons work through their merger, they are touting growth potential and the ability to compete with retailers Walmart, CVS Health, Walgreens Boots Alliance and grocer Kroger on a national level. Executives Tuesday said there is while tapping new markets for health and drug benefits, particularly for seniors insured by Medicare in California where both have strong brands. Combined, Albertsons and Rite Aid say the proposed new company will have $82 billion in sales, ranking fifth behind Walmart, which at No. 1 will be more than triple its size with more than $300 billion in annual revenue.
J&J said that its widely-used baby powder never contained asbestos, a known carcinogen linked to mesothelioma. The case also names as a defendant a local unit of Rite Aid, one of the largest U.S. drugstore chains, which allegedly sold the baby powder used by the woman. The case marked the first time a drugstore was involved in a talcum powder liability trial and a lawyer for the company, Sarah Johnston, said there was no reason for Rite Aid to be part of the suit.
J&J said that its widely-used baby powder never contained asbestos, a known carcinogen linked to mesothelioma. The case also names as a defendant a local unit of Rite Aid (RAD.N), one of the largest U.S. drugstore chains, which allegedly sold the baby powder used by the woman. The case marked the first time a drugstore was involved in a talcum powder liability trial and a lawyer for the company, Sarah Johnston, said there was no reason for Rite Aid to be part of the suit.
Albertsons Companies, Inc. one of the nation’s largest grocery retailers, and Rite Aid Corporation (RAD), one of the nation's leading drugstore chains, announced today that they will host a joint analyst event on May 15, 2018. The management teams of both companies will discuss the strategic and financial benefits of the proposed merger transaction between Albertsons Cos. and Rite Aid. As previously announced on February 20, 2018, Albertsons Cos. and Rite Aid announced a definitive merger agreement under which privately held Albertsons Cos. will merge with publicly traded Rite Aid.
Buildings are reflected in the window of a CVS Health Corp. store in downtown Los Angeles, California, U.S., on Friday, Oct. 27, 2017. Fred’s Inc. said CVS Health is buying its specialty pharmacy business EntrustRx for $40 million amid the retailer’s effort to execute a financial turnaround. “One of Fred’s top priorities for 2018 has been to monetize non-core assets and we are pleased to have reached an agreement for the sale of EntrustRx,” Fred’s interim CEO Joseph Anto said in a statement Monday afternoon.
The Rhode Island–based CVS Health (CVS) reported its results for 1Q18 on May 2. The pharmacy giant reported an earnings beat for the quarter but failed to meet top-line expectations.
Fred's Pharmacy on Friday, May 4, 2018 said planned to sell its specialty pharmacy business and look at various options for its retail pharmacies. Fred’s confirmed Friday plans to sell the company’s specialty pharmacy business as part of a turnaround plan. Potential bidders could include larger pharmacy chains CVS Health, Walgreens Boots Alliance, and Rite Aid that are already reporting specialty pharmacy as a key driver of overall growth as more patients need help with management and related support for the complex medications they take for their chronic and sometimes rare conditions.
Fred's Inc. is evaluating options for its retail pharmacy portfolio. Fred’s is evaluating options for its retail pharmacy portfolio and “actively pursuing a sale” of its specialty pharmacy business, the retailer said Friday, a year after the company failed to buy hundreds of Rite Aids. “Some of the strategic transactions we are actively pursuing include a sale of our specialty pharmacy business and portions of our vast real estate portfolio," Antos added.
MedTrakRx, a pharmacy benefit manager (PBM) and a division of EnvisionRxOptions (a wholly owned subsidiary of Rite Aid), was recently selected by the Kansas City Business Journal as a 2018 Champion of Business award winner. The award recognizes area businesses that excel in financial performance, innovation and community involvement. This is the second time MedTrakRx has been honored with this prestigious award, which they will receive along with other recipients during the 12th annual awards luncheon on May 4 at the Intercontinental Hotel in Kansas City.
Fred's CEO Michael K. Bloom has resigned as CEO after less than two years in the top job and a failed attempt to buy hundreds of Rite Aids.
Rite Aid Corporation today announced that it has commenced an offer to purchase for cash up to $700,000,000 of certain of its outstanding indebtedness, consisting of its 6.75% Senior Notes due 2021 and 6.125% Senior Notes due 2023 , with a portion of the net cash proceeds received from its previously announced sale to Walgreens Boots Alliance, Inc.
Rite Aid Corporation (RAD) announced today that naloxone, a medication that can be used to reverse the effects of an opioid overdose, is available at each of the more than 2,500 Rite Aid pharmacies in the United States and can be dispensed without a prescription, subject to state regulations. “The opioid epidemic has reached epic proportions and it is an issue that demands not only our attention but also our continued action to help reduce the rise in opioid deaths,” said Jocelyn Konrad, Rite Aid executive vice president of pharmacy. “For the past two years, we’ve worked with state and federal lawmakers to increase access to this life-saving medication.
Rite Aid’s (RAD) management provided guidance for fiscal 2019 in its fiscal 4Q18 report. Management believes the company will benefit from generic drug purchasing efficiencies, a more stable reimbursement rate environment, Walgreens’s deal-related TSA (Transportation Security Administration) fees, and the company’s ongoing initiatives in fiscal 2019.
As we saw in the previous part of this series, Rite Aid (RAD) reported an 8.6% YoY (year-over-year) decline in its fiscal 4Q18 revenues from continuing operations to $5.4 billion. Its Retail Pharmacy segment, which includes prescription drugs, health and beauty products, and personal care items, saw its revenue fall 10.1% to $4 billion. Same-store sales from continuing operations fell 1.7% YoY during the quarter, driven by a 2.3% decline in pharmacy sales and a 0.6% fall in front-end sales.
Rite Aid (RAD) reported its fiscal 4Q18 results after the market closed on Thursday, April 12, 2018. Its top line fell 8.6% YoY (year-over-year) to $5.4 billion, missing the average consensus expectation by $180 million.
CVS (CVS), which is an American retail pharmacy and healthcare company, was the S&P 500’s second-highest performer on April 16. After gaining for three consecutive trading days, CVS opened higher on Monday and surged to four-week high price levels.
On Thursday, April 12, 2018, Rite Aid (RAD) reported its results for fiscal 4Q18 and fiscal 2018. The results relate to the three-month and 12-month period that ended March 3, 2018.
Despite the threat of Amazon entering the pharmacy business, Walgreens, CVS and Rite Aid see corner locations and bricks and mortar expansions as a consumer's entry point for health access.