Rite Aid might be the next GameStop

If I had a dollar for every story about Rite-Aid's eminent demise, I'd be a millionaire.

They've been on the financial ropes since at least 1998 so I wouldn't hold my breath waiting for any going out of business sales.

To the moon

[quote] Rite-Aid's eminent demise

Imminent, R1.

It sounds bad to say, but they need to go out of business. There is a massive shortage of pharmacists as it is.

They stores can close and the CVS/Walgreens/Walmart will actually be able to staff their pharmacies with reasonable hours. My parent's Walgreens hasn't staffed their pharmacy (the store itself is still open) on the weekends for the past two years.

R4 doesn’t make sense

The stock has been a disaster for 20 years. They took on way too much debt and never got out of it.

R6 🚀🦧🚀🦧🚀🦧🚀

what other stocks are we buying?

Rite Aid locations are actually well stocked in our area. It's Walgreens that apparently was so badly slammed by COVID that they can barely stay open.

I'd rather shop at Rite-Aid first, CVS second, and Walgreens dead last. The Rite-Aids in our area are nice. Not sure about everywhere else. CVS seems to be the most expensive, then Rite Aid, then Walgreens, for sundries. Rite Aid has Thrifty ice cream.... and liquor, so it has the most to offer.

Rite Aid is so much nicer than CVS or Walgreens. They’re fully stocked and clean.

[quote]They stores can close and the CVS/Walgreens/Walmart will actually be able to staff their pharmacies with reasonable hours.

CVS doesn't need them.

Its 23% short interest - and high leverage - makes it a candidate for a squeeze. That's excellent news for Rite Aid shareholders. A share spike would help the firm refinance and reduce its costly debts. Rite Aid can issue another 18.3 million shares without increasing its authorized share cap. A cash influx could also help fund more extensive renovations, making its physical stores more competitive with profitable dollar stores. Many of Rite Aid's ills are curable with cash.

what's the latest?

Rite Aid is generally very good and much better than Walgreens in LA. I read they filed bankruptcy to get out of federal opiod lawsuits. Funky stuff can then occur…

CVS setled its Opoid issues. Rite Aid hasn't.

It's stupid that pharmacies are being sued over the opioid crisis. These pharmacies didn't write the prescriptions nor take the pills without understanding the risks, and putting the onus on pharmacists to monitor doctors writing prescriptions and what patients are doing with the medications they're prescribed is dangerous; we've already seen that Walgreens has determined it too politically risky to sell Mifepristone thereby denying safe early-pregnancy abortions to not just red state residents but every woman across the nation. Further, placing the responsibility for the pharmacy to control distribution for such basic items as nasal decongestant has presented us with the situation where it is harder to by allergy meds than it is a gun. And I really, really do not want a pharmacist telling me he won't fill a prescription for PrEP or HIV meds because its against his personal religious beliefs, which have nothing to do with my care.

[quote] It's stupid that pharmacies are being sued over the opioid crisis

I've been making those same arguments for years. But it's a cash grab by the states, supposedly to be used for drug treatment and related costs. Most states will just blow it on the usual pork. Much like the tobacco settlement scam.

Rite Aid used to be the best place. Always had 50% off sales. BOGO free. Then CVS opened everywhere and Rite Aid became the downtrodden store.

The Rite Aid in my neighborhood has been very poorly stocked recently. Next to no back-to-school supplies and sparse Halloween candy compared to CVS. I asked the clerk if the store was closing and she looked a little appalled. Four other Rite Aids in town closed in the last year and a half. The pharmacy in this remaining store always looks slammed, though, and works under curtailed hours. Strangely, the CVS pharmacy a few blocks away processes people through very quickly with minimal wait.

What are you buying next week?

The closest Rite-Aid to me has looked like it’s out of business for a good ten years.

I was in there yesterday to pick up a prescription that my pharmacy didn’t have, so I was very glad it was there. Also, the pharmacist was quite the cutie.

I went into town to buy a birthday card last week and decided to go to Rite Aid because CVS is insane in summer and “pumpkin picking season.” There are times I can’t get a parking place in CVs and have to postpone getting medication for a full day.

So, says I, better go to Rite Aid and avoid a crush. The Rite Aid parking lot is behind the store so I pulled in and ….no cars. Usually cars are lined up in the slots right behind the store. I looked at the store windows but they were up high and I couldn’t see inside the store. I wasn’t sure if it was closed down or not. So I left and went to CVS.

Just don't get rid of the Thrifty Ice Cream !!

Prior to Covid that’s where I shopped as they always had a wide variety and in-stock items and the store was remodeled and modern. Now, it looks like it’s been looted. Some shelves with nothing on them at all. One check-out guy instead of three, no lines, no people, no merchandise.

No Rite-Aids in my city. But here CVS is so many leagues above Walgreens in every conceivable way. And there's a CVS across the street from where I live.

CVS medication copays are a lot higher than Walgreens. I use Good Rx a lot instead of using my insurance (it’s cheaper) and Walgreens is always a lot less.

[quote] Thrifty Ice Cream

Hmmmm... that sounds like quality ice cream that comes with a 50%-off coupon for Immodium.

R28 Thrifty Drug was a big chain of drug stores on the West Coast before Rite-Aid swallowed the company.

They were quite famous for their in-store ice cream counters. Rite-Aid very wisely kept this feature, and on many stores (at least here in California) you'll still see a sign outside that promotes Thrifty ice cream. It's locally made, very high quality.

I did not know that history of Thrifty. Thanks for sharing, r29.