Rite Aid Sees First Annual Profit Since 2007

Six years is a long time to go without annual profit, but pharmacy chain Rite Aid has managed to do just that—until now. Attributing the turnaround partly to a focus on wellness programs, chain management is celebrating a stockprice that has soared 25 percent in the past 12 months. Chief Executive Officer John Standley is remodeling the Camp Hill, Pennsylvania-based company's stores to spur visits with new displays such as eye-care centers where customers can order contact lenses or glasses. Earnings also benefited from demand for higher-margin generic drugs and last year's dispute between larger Walgreen and employee-benefits manager Express Scripts Holding, a struggle that ended up sending disgruntled Walgreen shoppers to Rite Aid. Story