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

Suggested Articles

Costco changes up its menu items, and Alibaba and Guess partner for a physical store.

Janey Whiteside, Walmart's new chief customer officer, is well acquainted with the importance of customer service in modern retail.

Whole Foods will offer deals on Amazon's Prime Day, and tariffs against China are causing pricing hikes.