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Rite Aid Corporation Message Board

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  • mr_rad1 mr_rad1 Jan 25, 2010 6:40 PM Flag

    Anthor wag for Mtnmountman

    Both Sammons and Standley were running companies that turned around and were taken over now they are teamed up again will see who is next for a RAD takover.

    Sammons joined Rite Aid in December 1999 as President and COO, was named President and CEO in 2003 and named Chairman and CEO in 2007. Before joining Rite Aid, she was President and Chief Executive Officer of Fred Meyer Stores, a food, drug and general merchandise retailer in the Pacific Northwest and a unit of Fred Meyer, Inc. which was bought by The Kroger Company in 1999

    Standley came on as CFO in December 1999. He left Rite Aid in August 2005 to become CEO of Pathmark Stores and returned to Rite Aid in December 2008 after Pathmark was purchased by Great Atlantic & Pacific Tea

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    • Just a quick question...Who would want a business with 8B in debt that includes:

      an aging store population in strip malls,

      1500 Eckerd stores that were unprofitable under JCP, unprofitable under JCG and that have progressively performed worse since RAD purchased them?

      Practically all leased stores

      Productivity that is going to produce a loss of up to a million a day for the coming year

      No profit in sight, regardless of if you look forward or backward.

      All of this in an environment that includes WAG, CVS and WM that are expanding like crazy with healthy(ok, tons healthier) balance sheets?

      Why not do like the last article suggested...just wait, let them close the store and take their scripts? Seems to be happening every month.

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