Rochester,NY 7/7/2009 3:22:46 AM
Late Afternoon Report - RAD -Closing Time: Scenes of Retail Ruin - Sourced WhisperFromWallStreet.com
Rite Aid Corp
Late Afternoon Report - RAD -Closing Time: Scenes of Retail Ruin - Sourced WhisperFromWallStreet.com
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Rite Aid Corp.RAD
After Hours: 1.34 Up 0.01 (0.75%) 4:00PM ET
It's hardly a government secret that retailers are struggling. Over the past several months, dozens of major national chains have resorted to shuttering stores in an effort to cut costs.
AnnTaylor(ANN Quote) has announced plans to eliminate 163 locations by 2010; Rite Aid(RAD Quote) intends to close 117 stores this year; Starbucks(SBUX Quote) is on a mission to close nearly 600 outlets in the United States.
Not to mention Gap(GPS Quote), Home Depot(HD Quote), Sears(SHLD Quote), Macy's(M Quote), Office Depot(ODP Quote), J.Jill(TLB Quote) ... the list goes on and on.
To honor the many good stores now shuttered for good, TheStreet.com has compiled the following photo gallery. Trust us when we say that we're hoping to never have to update it again -- although something tells us we will.
About
Rite Aid Corporation, through its subsidiaries, operates retail drugstores. Its drugstores primarily provide pharmacy services. The company sells prescription drugs and front-end products. It offers approximately 28,000 front-end products, which include over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, beverages, convenience foods, greeting cards, seasonal merchandise, and various other everyday and convenience products, as well as photo processing. Rite Aid Corporation markets its products primarily under the Rite Aid brand. It sells its products to the customers covered by health plan contracts, which contract with a third party payors, such as an insurance companies, governmental agencies, health maintenance organizations, and other managed care providers. As of February 28, 2009, the company operated 4,901 stores in 31 states across the country and in the District of Columbia. It has a strategic alliance with GNC to operate GNC stores within Rite Aid stores. Rite Aid Corporation was founded in 1927 and is headquartered in Camp Hill, Pennsylvania.
Last Trade: 1.34
Day's Range: 1.22 - 1.36
52wk Range: 0.20 - 1.97
Volume: 8,049,537
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