There are many regional stores around the country that contribute to the unique retail footprint of each town, and Rite Aid is one of these stores.
However, if you’ve never heard of Rite Aid, you may be curious as to what type of store it is. In this article, we’ll take a look at what exactly a Rite Aid is, including its services and how it compares to other stores. If you’d like to learn more, keep reading!
What Is Rite Aid In 2023?
Rite Aid is a regional pharmacy that mostly exists on the East and West coasts in 2023. It provides most of the same services as other pharmacies, including filling prescriptions and 24-hour service windows. Currently, this company has over 2,500 stores open in the United States. They are also publicly traded on the New York Stock Exchange.
For information on the company’s store locations and how they compare to similar stores, take a look at the information we’ve collected below for more facts!
Are Rite Aid and CVS the Same?
While these stores perform very similar services, they are not the same in the least.
Each is operated independently from the other, and they do have slightly different items for sale.
For instance, while each store does sell groceries, they provide slightly different groceries.
Furthermore, both of these stores offer health services and have pharmacies, which is what they are most known for. For instance, both Rite Aid and CVS offer flu shots and fill prescriptions.
With that said, Rite Aid has far fewer stores than CVS. Therefore, you’re much more likely to find a CVS near you than a Rite Aid. By some reports, Rite Aid sales are also declining, while CVS is increasing slightly.
Is Walgreens the same as Rite Aid?
Rite Aid was originally separate from Walgreens. However, Walgreens acquired Rite Aid on October 27, 2015, though a complete deal was called off due to antitrust laws.
Instead, Walgreens only purchased 1,900 Rite Aid stores. Furthermore, Rite Aid itself still has 2,500.
Despite being owned by the same people, these stores still have their own identities. Many Rite Aid stores were transitioned over to Walgreens, though some still exist under the Rite Aid name.
Usually, the stores bought by Walgreens are also branded under Walgreens.
Because switching stores is so complex, it takes many years for these pharmacies to be rebranded under Walgreens.
Therefore, you may notice stores labeled as Rite Aid that aren’t technically Rite Aid anymore.
Is Rite Aid in All 50 States?
Rite Aid stores have decreased significantly over the last few years, as the company sold many of its stores to Walgreens, greatly diminishing its reach.
Today, these stores are only in 17 US states, though they are also in a variety of US territories as well.
Many of these stores are concentrated on the west coast and in the North-Eastern portion of the United States.
There are no stores in the Midwest or in the Southern portion. Overall, this does seem to be an extremely regional store.
While this store has over 2,409 different locations, it’s located in only about 1,300 cities.
This means that most locations have two stores, and some cities even have over five stores.
Currently, Rite Aid stores are most populous in California, where they have 528 different stores, accounting for 21% of the company’s total locations.
Does Walgreens Own Rite Aid?
There was once a deal for Walgreens to purchase the entire Rite Aid company. However, this deal stalled out several times due to antitrust laws and other regulations.
In other words, the courts ruled that Walgreens could not own Rite Aid because it would lead to a massive pharmaceutical giant.
Instead, Walgreens only purchased a limited number of stores from Rite Aid, which led to the latter company largely becoming a regional chain.
Since then, Rite Aid has largely focused on becoming #1 in select regions instead of being a national store.
Furthermore, Rite Aid also sold stores to a variety of other companies.
For instance, it sold over 800 stores to Fred’s Inc, which is based in Tennessee.
It’s unlikely that Walgreens will attempt to purchase Rite Aid again in the future, as the Federal Trade Commission would likely not approve it again.
Which Store Is Cheaper- CVS or Rite Aid?
CVS and Rite Aid are often competing stores, and prices will vary from location to location and object to object.
Therefore, it may be cheaper to purchase certain things at Rite Aid, but cheaper to purchase other things at CVS.
With that said, CVS was found to have the highest drugstore prices, according to a study by MarketWatch.
However, Rite Aid was not one of the cheapest options by any means. In fact, it was right behind CVS as the second most expensive drugstore.
Therefore, while Rite Aid is cheaper, it isn’t cheaper by much. If you’re looking to really save money, you’re better off going to a different store altogether.
For instance, Consumer Reports found that it was almost always cheaper to purchase common drugs at Costco, Wal-Mart, and Kmart – not any of the big-name pharmacies.
One reason that pharmacies are so much more expensive is that they offer other services, which are added into the price.
For instance, many pharmacies have drive-through windows and 24-hour pharmacies.
Why is Rite Aid Closing Stores?
Over the last few years, Rite Aid stores have been closed and reopened under Walgreens branding as part of the sell-off that occurred some years ago.
If you notice that your local Rite Aid is suddenly a Walgreens, this is likely what happened.
However, the company has also closed its own stores over the years, especially since the beginning of COVID-19.
Like most stores, Rite Aid’s profits were hit, which has caused them to cut costs by closing stores.
There is no exact number of stores that have been closed. However, it has been around 2% of the company’s locations over the last couple of years.
Rite Aid has decreased its stores substantially over the last few years, but it’s still a key regional player in the North-Eastern United States and along the West coast.
For the most part, Rite Aid offers the same services you’d find at other pharmacies. The company fills prescriptions and is mostly known for its pharmacy. However, it also sells things like cosmetics and food.