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MarketScreener Homepage  >  Equities  >  Nyse  >  Rite Aid Corporation    RAD

RITE AID CORPORATION

(RAD)
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Rite Aid : Partners with Instacart for Front-End Delivery Service

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05/13/2020 | 10:01am EDT

Chain-wide partnership will provide customers access to essential items during COVID-19

Today, Rite Aid (NYSE: RAD) announced a new partnership with Instacart, which will allow customers to conveniently order and receive essential healthcare and grocery items delivered directly to their homes during the COVID-19 pandemic and beyond.

Instacart delivery is now available from Rite Aid’s more than 2,400 locations across 18 states. Customers can visit https://delivery.riteaid.com or https://www.instacart.com/rite-aid, where they can access a full catalog of healthcare and grocery products from their local store, excluding prescription medications. All Instacart orders now default to “Leave at My Door Delivery,” in order to maintain social distance and allow customers to receive deliveries safely.

“At Rite Aid, we are focused on providing our customers and communities with the essentials they need during these unprecedented times,” said Jim Peters, chief operating officer, Rite Aid. “To further enhance our services, we have teamed up with Instacart to offer our customers another convenient method of shopping at Rite Aid from the safety and comfort of home.”

“We know people and families are depending on delivery to get their groceries and household essentials now more than ever, and we’re proud to partner with Rite Aid to offer customers another stay-at-home shopping alternative in the wake of COVID-19,” said Nilam Ganenthiran, president of Instacart. “Bringing Rite Aid’s broad selection of healthcare and grocery products online will give customers more access to the goods they need, delivered directly from the store to their door.”

Through Rite Aid’s new Instacart delivery service, customers can shop for the essential products and groceries they need online. An Instacart personal shopper will pick, pack and deliver available products within the customer’s designated timeframe, offering an efficient alternative to in-store shopping.

For any questions related to the Instacart shopping or delivery process during this time, please visit Instacart’s COVID-19 Resource Center here: https://covidresponse.instacart.com/.

Additionally, Rite Aid is dedicated to making it easier for customers to get their prescriptions with pick up and home delivery options. Each Rite Aid location offers options for drive-through, curbside and home delivery. Our pharmacists are also available to support customers to ensure they are able to receive their medications as needed.

Rite Aid continues to monitor the COVID-19 situation closely and take measures to protect its associates and customers, while minimizing risk in its stores, offices and distribution centers so that the company can continue to serve as a critical healthcare resource for consumers across the country. For more information on Rite Aid’s expanded actions to support the health and wellbeing of associates and customers throughout the COVID-19 pandemic, please visit: https://www.riteaid.com/Covid19.

About Rite Aid Corporation

Rite Aid Corporation is on the front lines of delivering healthcare services and retail products to more than 1.6 million Americans daily. Our pharmacists are uniquely positioned to engage with customers and improve their health outcomes. We provide an array of whole being health products and services for the entire family through over 2,400 retail pharmacy locations across 18 states. Through EnvisionRxOptions, we provide pharmacy benefits and services to approximately 4 million members nationwide. For more information, www.riteaid.com.

About Instacart

Instacart is the North American leader in online groceries and one of the fastest-growing companies in ecommerce. Instacart shoppers offer same-day delivery and pickup services to bring fresh groceries and everyday essentials to busy people and families across the U.S. and Canada. Instacart has partnered with more than 350 beloved national, regional and local retailers to deliver from more than 25,000 stores across more than 5,500 cities in North America. Instacart’s delivery service is available to more than 85% of U.S. households and 70% of Canadian households. The company's cutting-edge enterprise technology also powers the ecommerce platforms of some of the world's biggest retail players, supporting their white-label websites, applications and delivery solutions. Instacart offers an Instacart Express membership for unlimited free delivery on orders over $35. For more information or to start shopping, visit www.instacart.com. For anyone interested in becoming an Instacart shopper, visit https://shoppers.instacart.com/.


© Business Wire 2020
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Financials (USD)
Sales 2021 23 475 M - -
Net income 2021 -71,2 M - -
Net Debt 2021 2 791 M - -
P/E ratio 2021 -11,4x
Yield 2021 -
Capitalization 808 M 808 M -
EV / Sales 2021 0,15x
EV / Sales 2022 0,15x
Nbr of Employees 39 920
Free-Float 96,8%
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Mean consensus UNDERPERFORM
Number of Analysts 5
Average target price 11,88 $
Last Close Price 15,11 $
Spread / Highest target 19,1%
Spread / Average Target -21,4%
Spread / Lowest Target -60,3%
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Managers
NameTitle
Heyward R. Donigan President, Chief Executive Officer & Director
Bruce G. Bodaken Chairman
James J. Peters Chief Operating Officer
Matthew C. Schroeder Chief Financial Officer & Executive Vice President
Justin Mennen Chief Information Officer & Executive VP
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