Rite Aid’s Total Number of Stores (2016-2022)

This statistic highlights Rite Aid’s Total Number of Stores, reported on a quarterly basis from Q1 2016 onwards.

Rite Aid Corporation, founded in Camp Hill, Pennsylvania, is an American drugstore chain. Founded in 1962 by Alex Grass under the name Thrift D Discount Center in Scranton, Pennsylvania. The company was ranked 150th on the 2020 Fortune 500 list of the largest US companies in terms of total revenue. Rite Aid is listed on the New York Stock Exchange under the ticker symbol RAD. Rite Aid Co., Ltd. Engages in owning and managing drugstores. Operated through the following segments: Retail Pharmacy and Pharmacy Services. The retail pharmacy segment includes branded and generic prescription drugs, health and cosmetology aids, personal care products, and walk-in retail clinics. The Pharmacy Services segment provides transparent and traditional pharmacy benefit management to insurers, employers, health insurance companies, and civil service groups.

Rite Aid’s Total Number of Stores

Rite Aid’s Total Number of Stores inclined from 2,447 stores in Q3 2021 to 2,488 stores in Q3 2022, marking an increase of 1.68% (41 stores) on a year-on-year basis. Quarterly, the number of stores showed a decrease of around 0.52% (13 stores) as the number of stores declined from 2,501 stores in Q2 2022 to 2,488 stores in Q3 2022.

In 2021, this company’s number of stores showed a fluctuation. This is evident from the fact that the number of stores increased from 2,457 stores in Q1 2021 to 2450 stores in Q2 2021, registering a fall of 0.28% (7 stores). This was further continued with a decrease in the number of stores as they declined to 2447 stores in Q3 2021, accounting for a decrease of 0.12% (3 stores). This was followed by a good recovery in the number of stores in the next quarter as Rite Aid’s Total Number of Stores increased from 2447 stores in Q3 2021 to 2510 stores in Q4 2021, projecting an incline of 2.57% (63 stores).

In 2022, the company’s number of stores witnessed a downward and negative trend. Thus, the number of stores fell from 2510 stores in Q4 2021 to 2506 stores in Q1 2022, accounting for an incline of about 4.85% (2.24 million). This was followed by the continued decline in the number of stores by 0.52% (13 stores) as it decreased from 2501 stores in Q2 2022 to 2488 stores in Q3 2022.

On an overall analysis of the past years, it can be concluded that the company witnessed fluctuations in the number of stores in all the quarters from 2016 to 2022. However, on a closer look at the statistics, it can be seen that there is a decline in the number of stores from 4566 stores in Q1 2016 to 2488 stores in Q3 2022, marking a massive decline of 45.51% (2078 stores).

About the Company

Rite Aid Corporation is foremost in delivering health care services and retail pharmaceutical goods to more than 1 million Americans regularly. Its pharmacists are exceptionally positioned to engross with customers and increase their health outcomes. It provides a variety of all-inclusive health products and services for the entire family through more than 2,500 retail pharmacy locations spread across 17 states.

Rite Aid’s pharmacy supply and services company, Elixir, is made up of advanced technology with billing software, email delivery, previous pharmacy services, network, and discount management, treatment discount programs, and health insurance for individuals and groups. Through Elixir, Pharmacy Service Manager, the company provides pharmacy supplies and services to more than 3 million customers nationwide. With consistent service, this rebranded company is well-positioned for mid-sized employers and local health insurance companies looking for alternatives to large-scale health insurance-related PBMs. In addition, by being associated with Rite Aid’s business, Elixir has the opportunity to become more competitive, provide superior facilities for retail and mail-order pharmacies, and contribute to constructive health outcomes. Elixir contributes to the company’s profitability and represents Rite Aid’s great growth opportunities. The company is committed to providing a high level of care and service to its customers and communities through its retail drugstores and PBM Elixir.

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