Rite Aid has appointed former Roundy’s executive Darren Karst as EVP and CFO, effective Aug. 20, to succeed Frank Vitrano, who has announced he will retire in Sept. 2015. Karst will report to Rite Aid’s chairman and CEO John Standley.
More than 1-in-4 Rite Aid locations now reflect the latest in healthcare retailing — the company's Wellness store format, the concept that serves as a cornerstone to Rite Aid's overall health-and-wellness solution, John Standley, Rite Aid chairman and CEO, told analysts Thursday morning.
The National Association of Chain Drug Stores has elected new officers, one new executive committee member and three new board of directors members for the coming year during its annual meeting this weekend.
Rite Aid introduced a new program, dubbed Rite Aid Health Alliance, which is a health management collaboration among various healthcare providers that provides comprehensive care and support to individuals with chronic and poly-chronic health conditions and helps them achieve health improvement goals established by their physicians.
Rite Aid modestly increased its full year sales forecast following the release of third quarter results and said it will aggressively expand its “Wellness” format as it looks to drive greater growth in 2014.
Sales may have been flat overall, but a closer look revealed there was a lot to be positive about in Rite Aid’s fiscal first quarter 2012 earnings, as the company managed significant expense improvement and stronger same-store sales growth.
What Rite Aid might wish for Christmas is accelerated results borne from its Wellness+ loyalty card program, because even as the chain lowered its guidance for fiscal 2011 sales, it’s that differentiated loyalty program that’s going to buttress sales next year and beyond.