{"id":2072689,"date":"2023-10-19T06:42:02","date_gmt":"2023-10-19T10:42:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rite-aid-to-close-31-california-stores-154-nationally\/"},"modified":"2023-10-19T06:48:50","modified_gmt":"2023-10-19T10:48:50","slug":"rite-aid-to-close-31-california-stores-154-nationally","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rite-aid-to-close-31-california-stores-154-nationally\/","title":{"rendered":"Rite Aid shutting down 31 stores in California, 154 nationwide."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frite-aid-to-close-31-california-stores-154-nationally%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2072689&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><blockquote>\n<div data-post-content=\"true\" class=\"post_content\" id=\"post_content\">\n<p>Rite Aid is\u200d set to close 31 \u2063stores in\u2064 California as part of\u2062 its bankruptcy restructuring plan, according\u2062 to a federal \u2062bankruptcy filing on October 16.<\/p>\n<p>The majority of\u2063 the closures will occur in Southern California, with only seven stores remaining open. In total, Rite\u2064 Aid\u200c plans to shut down 154 of its 2,<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rite-aid-to-close-31-california-stores-154-nationally\/\" title=\"Rite Aid shutting down 31 stores in California, 154 nationwide.\">100 retail pharmacy outlets nationwide<\/a>.<\/p>\n<p>&#8220;We regularly\u200d assess our retail footprint \u2062to ensure efficiency \u2062while \u2063meeting \u2064the needs of our customers, communities, and associates,&#8221; Rite Aid stated in an email to\u2064 The\u200b Epoch Times. &#8220;As\u200b part of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/silicon-valley-banks-parent-company-files-for-chapter-11-bankruptcy-protection\/\" title=\"Silicon Valley Bank\u2019s Parent Company Files For Chapter 11 Bankruptcy Protection\">court-supervised process<\/a>, \u2063we will\u200d be closing\u2062 underperforming stores to reduce rent expenses and\u200d improve overall financial performance.&#8221;<\/p>\n<div class=\"shortcode\">\n<div class=\"border-comp-divider mb-4 mr-4 w-full max-w-[500px] border px-5 py-4 text-[16px] leading-[20px] text-[#262626] md:float-left\" id=\"in_article_related_stories\">\n<h2 class=\"mb-3 font-sans text-[16px] font-semibold uppercase leading-[19px] text-[#2F2F2F]\">Related Stories<\/h2>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-4 sm:line-clamp-3\">\n<a href=\"http:\/\/www.theepochtimes.com\/us\/bed-bath-beyond-closing-8-more-stores-in-southern-california-5027444?ea_src=author_manual&#038;ea_med=related_stories\"><\/p>\n<h3 class=\"text-sm sm:text-base\">Bed Bath &#038; Beyond Closing \u200c8 More Stores\u2063 in Southern California<\/h3>\n<p><\/a>\n<\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">2\/1\/2023<\/div>\n<\/div>\n<div class=\"shrink-0 basis-[70px] sm:basis-[120px]\">\n<a href=\"http:\/\/www.theepochtimes.com\/us\/bed-bath-beyond-closing-8-more-stores-in-southern-california-5027444?ea_src=author_manual&#038;ea_med=related_stories\">\n<picture><source type=\"image\/webp\" https:><\/source><source type=\"image\/*\" https:><\/source>\n<\/picture>\n<\/a>\n<\/div>\n<\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-4 sm:line-clamp-3\">\n<a href=\"http:\/\/www.theepochtimes.com\/us\/starbucks-to-close-7-locations-near-downtown-san-francisco-5504339?ea_src=author_manual&#038;ea_med=related_stories\"><\/p>\n<h3 class=\"text-sm sm:text-base\">Starbucks to Close 7 \u200bLocations Near Downtown San Francisco<\/h3>\n<p><\/a>\n<\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">10\/4\/2023<\/div>\n<\/div>\n<div class=\"shrink-0 basis-[70px] sm:basis-[120px]\">\n<a href=\"http:\/\/www.theepochtimes.com\/us\/starbucks-to-close-7-locations-near-downtown-san-francisco-5504339?ea_src=author_manual&#038;ea_med=related_stories\">\n<picture><source type=\"image\/webp\" https:><\/source><source type=\"image\/*\" https:><\/source>\n<\/picture>\n<\/a>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/governors-senators-push-pharmacies-to-sell-abortion-pill\/\" title=\"Governors, Senators Push Pharmacies to Sell Abortion Pill\">pharmacy retailer<\/a>, facing significant debt, revenue declines, increased\u200d competition, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/giuliani-lawyers-say-he-is-being-treated-like-a-terrorist-drug-kingpin\/\" title=\"Giuliani Lawyers Say He Is Being Treated Like A Terrorist, Drug Kingpin\">lawsuits related<\/a> to opioid prescriptions, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District \u200bof New Jersey.<\/p>\n<div class=\"my-5\">Rite Aid also announced the \u2063appointment of Jeffrey\u2063 Stein,\u2064 an expert in corporate transformations, as its \u200bCEO\u200c and chief\u2062 restructuring officer. Stein will also join the company&#8217;s board of directors.<\/div>\n<div class=\"my-5\">&#8220;Rite Aid has \u200dbeen serving customers and communities for over 60 years, and the steps we\u200b are\u200d taking now will make us\u200c a\u2062 stronger company,&#8221; said Mr. Stein in a press release. &#8220;We \u200cwill work \u2063closely \u2063with our landlords to determine the best path forward for each store.&#8221;<\/div>\n<div class=\"my-5\">In the fiscal quarter ending June 3,\u2062 Rite Aid reported a revenue decrease\u200d of $6 billion, bringing its total revenue\u2063 to $5.7 billion. Despite a nearly 5 percent increase in prescriptions, \u200cthe company \u200creported a net loss \u2064of nearly $307 million. Prescription sales account for approximately 75 percent \u2062of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/victorias-secret-replaces-angels-with-megan-rapinoe-other-gender-equity-campaigners\/\" title=\"Victoria\u2019s Secret Replaces \u2018Angels\u2019 with Megan Rapinoe, Other \u2018Gender Equity Campaigners\u2019\">store sales<\/a>.<\/div>\n<div class=\"post-figure\">\n<figure style=\"width:600px\" class=\"alignnone\"><figcaption>A Rite Aid store is shown\u200c in downtown Los Angeles on Oct. 16, 2019. \u200c(Mike Blake\/Reuters)<\/figcaption><\/figure>\n<\/div>\n<div class=\"my-5\">The closure of 31 stores in California\u2062 represents only about 7\u200d percent of Rite Aid&#8217;s retail presence in the state. Prior to the closures,\u2062 the chain operated 448 locations in California.<\/div>\n<div class=\"my-5\">According \u200cto Rite Aid, some stores have already closed or will be closing in\u2062 the\u200b coming weeks.<\/div>\n<div class=\"my-5\">Established in 1962, Rite Aid \u200doperates \u2063over \u200b2,500 stores\u200d in 19 states, primarily \u200bon \u200bthe east and \u2063west coasts.<\/div>\n<div class=\"my-5\">Here is the list of California \u2062store \u200bclosures:<\/div>\n<h3>Los Angeles County<\/h3>\n<ul>\n<li style=\"font-weight: 400;\">4044 Eagle Rock \u2064Blvd., Los Angeles<\/li>\n<li style=\"font-weight: 400;\">4046 South Centinela Ave., Los Angeles<\/li>\n<li style=\"font-weight: 400;\">959 Crenshaw \u2062Blvd., Los Angeles<\/li>\n<li style=\"font-weight: 400;\">7859 Firestone \u200bBlvd., Downey<\/li>\n<li style=\"font-weight: 400;\">4402\u200c Atlantic \u2062Ave., Long Beach<\/li>\n<li style=\"font-weight: 400;\">935\u200c N. Hollywood Way, Burbank<\/li>\n<li style=\"font-weight: 400;\">139 \u200cN. Grand Ave., Covina<\/li>\n<li style=\"font-weight: 400;\">13905 Amar\u2064 Rd., La Puente<\/li>\n<li style=\"font-weight: 400;\">920 \u200cE. Valley \u2063Blvd., Alhambra<\/li>\n<li style=\"font-weight: 400;\">15800 Imperial Hwy., La Mirada<\/li>\n<\/ul>\n<h3>North of Los Angeles<\/h3>\n<ul>\n<li style=\"font-weight: 400;\">2738 E. Thompson Blvd., Ventura<\/li>\n<li style=\"font-weight: 400;\">720 N. Ventura Rd., Oxnard<\/li>\n<\/ul>\n<h3>Orange County<\/h3>\n<ul>\n<li style=\"font-weight: 400;\">24829\u2062 Del Prado, Dana Point<\/li>\n<li style=\"font-weight: 400;\">3029 Harbor Blvd., Costa\u200b Mesa<\/li>\n<li style=\"font-weight: 400;\">30222 Crown Valley\u2062 Pkwy., Laguna Niguel<\/li>\n<li style=\"font-weight: 400;\">19701 \u2064Yorba Linda Blvd., Yorba \u200cLinda<\/li>\n<li style=\"font-weight: 400;\">1406 W. Edinger Ave., \u200dSanta \u200dAna<\/li>\n<li style=\"font-weight: 400;\">8509 Irvine \u2062Center Dr., Irvine<\/li>\n<\/ul>\n<h3>Inland \u200dEmpire<\/h3>\n<ul>\n<li style=\"font-weight: 400;\">25906 Newport Rd., Menifee<\/li>\n<li style=\"font-weight: 400;\">3000 S. Archibald Ave., Ontario<\/li>\n<\/ul>\n<h3>San Diego County<\/h3>\n<ul>\n<li style=\"font-weight: 400;\">6505 Mission George Rd., San Diego<\/li>\n<li style=\"font-weight: 400;\">8985 Mira Mesa \u200cBlvd., San Diego<\/li>\n<li style=\"font-weight: 400;\">1670 Main \u2062St., Ramona<\/li>\n<li style=\"font-weight: 400;\">3813 Plaza Dr., Oceanside<\/li>\n<\/ul>\n<h3>Northern California<\/h3>\n<ul>\n<li style=\"font-weight: 400;\">20572\u2063 Homestead Rd., Cupertino<\/li>\n<li style=\"font-weight: 400;\">2620 El Camino Real, Santa Clara<\/li>\n<li style=\"font-weight: 400;\">901 Soquel Ave., Santa Cruz<\/li>\n<li style=\"font-weight: 400;\">571 Bellevue Rd., Atwater<\/li>\n<li style=\"font-weight: 400;\">5409 Sunrise Blvd., Citrus Heights<\/li>\n<li style=\"font-weight: 400;\">499 Alvarado St., Monterey<\/li>\n<li style=\"font-weight: 400;\">1309\u200b Fulton Ave., Sacramento<\/li>\n<\/ul>\n<\/div>\n<\/blockquote>\n<p> <\/p>\n<h2> What \u2063impact \u2062will the\u200c closure\u200b of 31 Rite Aid stores \u200din California\u200b have on the company&#8217;s overall\u200c retail presence in the state<\/h2>\n<p><span>  Rite\u200c Aid, \u200ba pharmacy retailer,\u2062 has announced\u2064 plans to close 31\u200c stores \u200bin California as part of its bankruptcy restructuring \u2062plan.\u200c The majority of the \u2064closures will \u200boccur in Southern California, with only seven stores remaining open. This decision comes as Rite Aid aims to reduce rent expenses and improve its\u200c overall financial performance.<\/p>\n<p>In a statement to The Epoch Times, Rite Aid explained that they regularly assess\u200c their\u2062 retail \u2063footprint to \u2062ensure\u200c efficiency while\u2063 meeting the needs of\u200c their\u200b customers, communities, \u2064and \u2063associates. The closure of underperforming stores is \u200da strategic move to achieve these \u2062goals.<\/p>\n<p>Rite Aid&#8217;s Chapter \u200b11 bankruptcy filing \u2064in the U.S. Bankruptcy Court for the District of New Jersey was driven \u200bby several \u200cfactors,\u2064 including significant debt, revenue\u200c declines, increased competition, and lawsuits related to opioid prescriptions. To navigate through this challenging \u200dperiod, Rite Aid appointed Jeffrey Stein, an expert in corporate transformations, as its CEO\u200d and chief \u200drestructuring officer. Stein&#8217;s extensive experience will be\u2064 valuable\u2064 as the company\u200b aims to restructure and emerge stronger.<\/p>\n<p>&#8220;We will work closely with\u2063 our \u200blandlords to determine the best \u2062path forward for each store,&#8221; said Mr. Stein in a press \u2062release. Rite Aid\u200c has \u2063been serving \u2063customers and communities for\u2062 over \u206360 years, and the steps \u2064they are taking now aim to make the company stronger.<\/p>\n<p>In\u200c the fiscal quarter\u200d ending in\u200c June,\u2062 Rite Aid\u200d reported\u2062 a revenue\u2063 decrease of $6 \u2063billion, resulting\u200b in total revenue of $5.7 billion. \u2062Despite a nearly 5\u200b percent increase \u2064in \u2062prescriptions, the company experienced \u200da net loss \u2063of nearly $307 million. It is \u2062worth\u200c noting that prescription sales\u200c account for \u200dapproximately 75 percent of store sales.<\/p>\n<p>The \u200cclosure \u2062of the 31\u2064 stores in California represents about 7 percent of Rite Aid&#8217;s retail presence in the\u2062 state. Prior to the closures,\u2064 the chain operated\u200c 448 locations in California.<\/p>\n<p>Rite Aid has already closed some stores, while \u200cothers will be\u2062 closing \u2063in the coming \u200bweeks.\u2063 The list of store closures includes locations in Los\u200c Angeles\u200b County, such as \u20624044 Eagle Rock \u200cBlvd<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rite Aid will shut down 31 stores in California as part of its bankruptcy restructuring plan, as stated in a federal filing on Oct. 16. Most of the closures will occur in Southern California, leaving only seven locations open. Nationally, the struggling retailer intends to close 154 out of its 2,100 pharmacy outlets. Rite Aid routinely evaluates its store portfolio for optimization.<\/p>\n","protected":false},"author":242,"featured_media":2072690,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2072689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2072689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/242"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2072689"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2072689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2072690"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2072689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2072689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2072689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}