Drugstores Now too
Published on May 26, 2017
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Rite Aid Corp. is planning to close up to 117 stores in the next year as it tries to cut costs following a $2.3 billion loss in the last quarter.
The company said the shutterings would be scattered around the country, targeting stores with weak sales and those in proximity to another Rite Aid.
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Rite Aid indicated its fourth-quarter results were hurt by the economy, a mild flu season and the infusion of new low-cost generic drugs.
Rite Aid comprised 4,901 stores located in 31 states at the end of February 2017. Rite Aid is the closest drugstore to me. The apocalypse is getting close to home.
Investment picks in the drug industry need to be kept on the watch list!
News of particular interest only at this source.
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