anyone know what's going on with rite aid?

[steveysmith54]

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AP
Rite Aid Will Close Las Vegas Stores
Friday January 4, 12:21 pm ET
Rite Aid Will Close 28 Stores in the Las Vegas Area, Sell Prescription Files to Walgreen

CAMP HILL, Pa. (AP) -- Rite Aid Corp., the nation's third-largest drugstore chain, said Friday it will shutter 28 Rite Aid stores in Las Vegas area because the stores have not been helping results.

The company will sell patient prescription files of 27 stores in the Las Vegas metro market, including Las Vegas, North Las Vegas and Henderson, to Walgreen Co. It is also in the process of selling the prescription files of the one store it operates in nearby Mesquite, Nevada.

Terms were undisclosed.

http://biz.yahoo.com/ap/080104/rite_aid_las_vegas.html?.v=1

Rite aid stock is also at it's almost all time low.

 

[PharmDstudent]

Good luck to anyone working at a Walgreen's in Las Vegas. Buyout scripts are unpredictable.

We had a grocery store buyout in October/November. Those were the most catered-to customers I have ever seen. They were used to 5 minute wait times and long talks with the pharmacist.
Thankfully, all of the hassle and headache with the buyout is practically over. Now, customers are just asking for a couple of their miscellaneous scripts to be refilled, and they know how a chain pharmacy operates.

 

[FruitFly]

Las vegas seemed to be more of a frontier market for Rite Aid. It's more of an east-coast thing and in other, select states. The southwest is dominated by other chains, and it was in a sea of competitors.

 

[Aznfarmerboi]

Personally, I am even amazed that they are still around. Their management sucks in the New York district, and changes every year or so. The stores commit insurance fraud left and right, and their staff are not well trained. That is what happen when you pay your techs minimum wage. Pharmacists are treated like robots. All of this is reflecting on their stock prices. Is it a coincidence that chains who experiement with new things, pay their tech above wages, treats their pharmacists a little bit better, such as CVS and Walgreens are doing so well?

Lets also not forget that Rite Aid mainly caters to unions and public insurance. The trend of their clients switching to mail order will only hurt them even more. In addition, their front store is a mess; they have too much stuff avaiable for sale and needs to limit the selection. They need to give the public an image. There is also a lot of red tape too.

 

[jawnly211]

Good luck to anyone working at a Walgreen's in Las Vegas.

NO JOKE!!!!!!!

the wags i work at bought out a huge grocery pharm about across the street. the mgmt was obviously not prepared for the influx of business. it took a good 3 or 4 months to fully recover. at times, we only had 1 pharm working with a couple techs. 3 hour wait times, lines about 40 people deep, and 100's of customers who had NO IDEA of the switch.

to paint a pretty picture for you, the area is about 90% government assisted and in the GHETTO! hahahahahaha

best of luck to all the LV pharmacists for the next few months. it will be a nightmare!

 

[loo]

Las vegas seemed to be more of a frontier market for Rite Aid. It's more of an east-coast thing and in other, select states. The southwest is dominated by other chains, and it was in a sea of competitors.

I definitely agree with this assessment. When you get right down to it, retail pharmacy is a business and underperforming stores get cut.