Rite Aid on the Rite Track
For the first time in five years, Rite Aid Corporation is celebrating the grand opening of a store built from the ground-up. This is the first net-new store to be built since 2010, and it’s in Harrisburg, PA, just miles from the top drug company’s headquarters. The new Rite Aid store, which is more than 14,500 sq. ft., features the company’s popular wellness store format. The new store also features a specially designed GNC vitamin department, including an interactive kiosk that helps customers make informed purchasing decisions. The new Rite Aid offers hundreds of new health and wellness products including organic and gluten-free foods.
Rite Aid Corporation has remodeled and relocated stores, as well as acquired new stores over the past decade, but with multiple store closures the store count has gradually declined since 2007. The company is hoping to turn that around with its new store format. Rite Aid’s wellness store format first debuted in spring of 2011. There are currently more than 1,500 nationwide. The company operates 4,600 Rite Aid stores overall.
CVS and Walgreens rank first and second, with Rite Aid hanging on to third place in the index of leading drug companies by both company sales and units. While Rite Aid Corporation has seen a constant decline in location count since 2007, both CVS and Walgreens have continued to see steady growth. All three leading drug companies have recently rebranded their store design and image to focus more on consumer health and wellness. If Rite Aid can continue to mimic CVS and Walgreens, it’s on the right track to see successful growth in the future.