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Rite Aid Corporation Message Board

  • stockjunki stockjunki May 11, 1998 6:31 PM Flag

    Food 4 Thought

    Hanford and Visalia California
    areas:

    Visalia building two stores closing Thrifties 100,000
    population
    stores are within a mile of eachother
    Hanford
    building two stores closing Thrifties 40,000
    population
    :purchased highest traffic corner in town for
    3+million and bought out two existing businesses - very
    aggressive

    on tour and going to check out other valley cities
    as i come to them. looks to be trend.

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    • As printed in the sunday patriot news " Rite Aid has been reiterated a STRONG BUY by analyst Debra Levin at MORGAN STANLEY DEAN WITTER".

    • The biggest event going on within RAD today on
      the West coast is not the closing of Alaska
      stores...

      Highly paid and older former Thrifty and especially
      Payless managers are dropping like flies for more money
      and better QOL from companies like Target,
      Michael's,...

      The bottom line is this: If you believe high school
      grads are capable of managing a drug store,
      BUY!

      So, to answer your question...the above point yields
      a great reduction in salary percent and management
      turnover...therefore greater profits!

      By the way, a high school
      sophmore is educated enough to run a drus store...the rest
      is people skills!

    • We need someone on the inside to tell it like it
      is. The downside as well as the otherside of the
      coin. I was employed by RAD 20 years ago (Thank My
      Lucky Stars) Long hours, extra work,short help I
      grumbled too....It took me awhile to see that these were
      growing pains, both mine and RAD's. I am very,very
      satisfied with my accumulation of RAD....They still have
      [WONDERFUL} growing pains

    • Walgreens quit doing this about 10 or 15 years ago.

    • I am not sure if the Walgreens offering the money
      is locally owned or not. Don't know if there are any
      locally owned stores. Chicago says there aren't any and I
      personally have no idea. All I know is the Walgreens opened
      two weeks ago and their parking lot is always fuller
      than RAD's across the street. My opinion is that
      Detroit customers are disgruntled with both RAD and
      Arbor/CVS so Walgreens is going to get a lot of business
      just because they are the new players in town. This is
      only the second or third Walgreens in the Metro
      Detroit area and the first in this specific area.
      Customers seem bitter about Arbors selling out to CVS and
      the fact that RAD took over Perry's but are slow to
      making significant improvements. Hope RAD overcomes.

    • Closing or selling the Alaskan stores would also
      be a strategic decision, I would think. Merchandise
      distribution and advertising would be difficult for just ten
      stores in a remote location. Store visits by senior
      operations management and loss prevention/security personnel
      would be a pain too. These stores most likely had
      merchandise the rest of the chain didn't because the stores
      were much larger and the customer needs a lot
      different. Even if revenues weren't bad, margins were
      probably lower than the other stores and contribution, if
      any, to fixed costs lower too. If they can sell the
      store locations and get a good price now, it should be
      a boost to earnings this year and the future.
      However, for a company this size, the impact, either way,
      shouldn't be very noticable.

    • If the stores were losing money, than it will
      have a small benefit to revenue. If they SOLD the
      stores to another chain, or to local owners, they will
      bring in some cash in the short term.

      So it
      helps, as long as the revenue was not good from the
      stores.
      You may see more (same store) sales growth in the
      next month as the average would go up.

      Bottom
      line, getting rid of negative producing units can only
      help.

    • I hope rad doesn't start a cash payment war for
      customers. ATT and MCI and Sprint tried this and now regret
      it and are trying to get out from under; its
      extremely expensive, but effective if only on competitor is
      doing it.

      What are prospects after closing
      alaska stores? Greater profits short term or long?

    • I supervise/train 23 stores in Northern Ca...
      Ask me anything!

    • There are no "locally owned Walgreens". Get ready Detroit !!!
      GO BULLS

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