Rite Aid (NYSE: RAD) is a drugstore chain in the United States and a Fortune 500 company headquartered in East Pennsboro Township, Pennsylvania, near Camp Hill. Rite Aid is the largest drugstore chain on the East Coast and the third largest drugstore chain in the U.S.
Rite Aid began in 1962 as a single store opened in Scranton, Pennsylvania called Thrif D Discount Center. After several years of growth, Rite Aid adopted its current name and debuted as a public company in 1968. Today, Rite Aid is publicly traded on the New York Stock Exchange under the ticker RAD. Rite Aid reported total sales of USD $24.3 billion in fiscal year 2008. In 2008, its market capitalization dropped to under $500 million. As of 23 February 2012 (2012 -02-23), the market capitalization of Rite Aid was about $1.4 billion.
Its major competitors are CVS and Walgreens.
Read more about Rite Aid: History
Famous quotes containing the words rite and/or aid:
“[T]he Congregational minister in a neighboring town definitely stated that ‘the same spirit which drove the herd of swine into the sea drove the Baptists into the water, and that they were hurried along by the devil until the rite was performed.’”
—For the State of Vermont, U.S. public relief program (1935-1943)
“There aren’t any good, brave causes left. If the big bang does come, and we all get killed off, it won’t be in aid of the old-fashioned grand design. It’ll just be for the Brave New-nothing-very-much-thank-you. About as pointless and inglorious as stepping in front of a bus. No, there’s nothing left for it, me boy, but to let yourself be butchered by the women.”
—John Osborne (1929–1994)