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MarketScreener Homepage  >  Equities  >  Nyse  >  Rite Aid Corporation    

RITE AID CORPORATION

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Rite Aid : Raises Age to Purchase Tobacco Products to 21

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04/23/2019 | 04:20pm EDT

Rite Aid (NYSE: RAD) will increase the age to purchase tobacco products to 21 consistent with the company’s commitment to promoting responsible access to tobacco products. Rite Aid previously announced that it will remove e-cigarettes and vaping products chain-wide. These actions will go into effect across all Rite Aid stores within 90 days.

“Raising the age for purchasing tobacco products is an important step in our efforts to ensure that these products do not fall into the hands of children and teens,” said Bryan Everett, chief operating officer of Rite Aid Corporation. “Our decision is directly related to research from the National Survey on Drug Use and Health that shows over 80 percent of adult smokers smoked their first cigarette before they turned 18, and nearly 95 percent started before age 21. By raising the purchase age, we are furthering our commitment to promoting responsible access to tobacco products.”

Rite Aid will continue to enforce the Company’s chain-wide “ID All” policy that requires identification to purchase age-restricted items, including tobacco products. Rite Aid will also continue efforts to help support those who want to quit. To date, the company has significantly reduced the visibility and footprint of its tobacco offering across all stores, while expanding its smoking cessation category. Rite Aid has also trained its pharmacists to provide counseling through programs such as “Quit For You,” which takes a personalized wellness approach to quitting smoking that is unlike any other smoking cessation program.

About Rite Aid Corporation

Rite Aid Corporation (NYSE: RAD) is one of the nation's leading drugstore chains with fiscal 2019 annual revenues of $21.6 billion. Information about Rite Aid, including corporate background and press releases, is available through the company's website at www.riteaid.com.


© Business Wire 2019
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Financials ($)
Sales 2020 21 586 M
EBIT 2020 -
Net income 2020 -166 M
Debt 2020 3 255 M
Yield 2020 -
P/E ratio 2020 -
P/E ratio 2021
Capi. / Sales 2020 0,17x
Capi. / Sales 2021 0,02x
Capitalization 437 M
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Income Statement Evolution
Consensus
 
Mean consensus UNDERPERFORM
Number of Analysts 3
Average target price 9,00 $
Spread / Average Target 11%
EPS Revisions
Managers
NameTitle
John T. Standley Chief Executive Officer & Director
Kermit R. Crawford President & Chief Operating Officer
Bruce G. Bodaken Chairman
Darren W. Karst Chief Financial & Administrative Officer, SEVP
Justin Mennen Chief Information Officer & Senior Vice President
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