Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a account? Log In

Rite Aid: Rightsizing Right

Bracha Arnold
October 12, 2023
Rite Aid: Rightsizing Right

Traditional pharmacies have a challenging run in today's fiercely competitive pharmacy sector – and perhaps no pharmacy chain has faced more challenges than Rite Aid. With rumors swirling about a Chapter 11 bankruptcy filing and significant store closures on the horizon, the company appears to be reevaluating and recalibrating its operations. Where might the chain look for inspiration for its turnaround? We dive into the visitation data to find out. 

Strategic Rightsizing: Prioritizing Success

Current rumors suggest that Rite Aid may close up to 500 stores in the coming years on top of the already significant rightsizing that Rite Aid has undergone in recent years. 

Rite Aid has closed about 240 stores since 2021, and the visitation data suggests that these strategic closures have helped it shed underperforming locations while keeping visitation patterns to its remaining stores relatively stable. So, even if overall visits to the chain have plummeted – as the chain operates with a significantly reduced store fleet – open Rite Aid venues are still seeing steady traffic. As the company continues looking for ways to optimize its brick-and-mortar footprint, where might Rite Aid focus its physical presence to maximize its investment?

Rite Aid’s Visit Share In Some States Is Significant

The U.S. retail pharmacy scene is dominated by CVS and Walgreens, both of which operate significantly more stores than Rite Aid – CVS and Walgreens maintain roughly 9,000 venues each, compared to Rite Aid’s 2,100. Consequently, Rite Aid's nationwide share of pharmacy visits is relatively small – 7.7% compared to CVS’s 44.1% and Walgreens’s 48.2% in Q2 2023. 

But the company commands a more significant presence in Rite Aid’s largest markets – Pennsylvania, New York, California, and Ohio. In New York and Ohio, Rite Aid’s relative visit share is almost double its nationwide average, while Rite Aid in California receives 18.8% of all visits to the three pharmacy leaders. And in Pennsylvania, where the company is headquartered, Rite Aid’s relative visit share stands at 32.2% – more than four times its nationwide benchmark.

In certain CBSAs in these states, nearly half of all pharmacy visits to the three pharmacy leaders go to the local Rite Aid. Rite Aid’s local strength in these areas may highlight opportunities for growth where the company can focus its investments as it continues to consolidate its store fleet. 

Zooming into Rite Aid in Pennsylvania 

One state where Rite Aid seems particularly popular is Pennsylvania, where the company was founded and is still headquartered. The state boasts an impressive 435 Rite Aid pharmacy locations, second only to California's 453. Not only does Rite Aid in the state receive almost a third of all visits to Rite Aid, Walgreens, and CVS, but the company’s Pennsylvania venues have also seen a smaller year-over-year (YoY) visit gap when compared to Rite Aid’s nationwide average. This suggests that Pennsylvanians continue to support their local Rite Aid locations, even as the company faces challenges nationwide.

This home state loyalty extends beyond elevated monthly visits – the Pennsylvania Rite Aid locations also saw a higher rate of returning visitors in Q3 2023 when compared to Rite Aid’s nationwide average. 

Room For Rightsizing

Rite Aid is keenly aware of the potential for a solid turnaround, focusing not only on rightsizing but also seeking out new opportunities, including small-format stores in areas with no pharmacies. And location intelligence suggests plenty of spots throughout the country where Rite Aid shines bright. As the chain continues to optimize its store fleet and find new opportunities to invest in, will Rite Aid see its fortunes improve?

Visit to find out.

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Free
Oops! Something went wrong while submitting the form.
Text Link
Rite Aid
Text Link
Ollie’s Bargain Outlet and Five Below: Q1 2024 Treasure Troves
CAVA Still Going Strong
Driving Success: Auto Parts Chains in 2024
Checking in With DICK’S Sporting Goods
Mother’s Day Shopping and Dining Trends Mall Index: April 2024 Recap – Retail Resilience Heading into Spring
Dollar Stores Still Gaining Momentum
Off-Price Apparel Chains After Q1 2024: Demographics in the Balance
Walmart, Target, and Wholesale Clubs Continue to Thrive
Home Improvement and Decor Check In Office Index: April 2024 Recap – Recovery Continues
Movie Theaters in Q1 2024: A Preview of Coming Attractions?
Let’s Get Physical: Fitness In 2024
Where Are Workers Returning to Office in 2024?
2024 Wins: Sweetgreen & First Watch on the Rise
A Full-Service Turnaround: Bloomin’, Dine, and Texas Roadhouse
Wendy’s and Denny’s: Breakfast and Late Night Dining Drives Success
Coffee Chains: Q1 2024 Update and What’s Changed Since COVID
Checking in with RBI and YUM!
Chipotle & McDonald's Serving Up Success
Wingstop & Shake Shack Continue Growing Their Reach 
Strong Start for Sprouts in 2024
Crocs’ Footwear Fairytale
Who Attends NCAA Final Four Events?
Eclipse Fever: How Did the (Retail and Hospitality) Stars Align?
Exploring Albertsons Companies’ Grocery Growth Mall Index: March 2024 Recap – Malls Rise Again Office Index: March 2024 Recap
Florida Spring Break Break-Up? Travelers Still Love Florida!
Provo-Orem and Ogden-Clearfield Emerging As Utah Hotspots 
Three Formulas for Experiential Retail in 2024
Aldi & Lidl Making The Cut
Texas Suburbs on the Rise
Exploring Luxury Hotel Brands’ Guest Segmentation
The St. Patrick’s Day Effect
How Can JOANN Make a Comeback?
Panera Bread Well Positioned for Possible IPO
Who Will Benefit From Family Dollar’s Downsizing?
Dave & Buster’s and Main Event Entertainment: Food and Fun for Everyone
Darden Brands: Location Analytics and Consumer Behavior
Nike and lululemon: a Strong 2023, Sprinting into 2024
Where Is Retail and Dining Foot Traffic Thriving in Early 2024? White Paper Recap – February 2024
Three Retail & Dining Chains That May Surprise in 2024
Specialty Discount Chains Rock Retail Therapy Mall Index: February 2024 Office Index: February 2024 Recap
Ulta Beauty Continues To Shine
First Watch Sails Into 2024
Hibbett Sports and DICK’S Sporting Goods: A Psychographic Analysis
Checking in With Discount & Dollar Stores
Peeking Behind The Curtain: Movie Theaters in 2023 and Beyond
Diving Into Brick-and-Mortar Eyewear
Getting Into Gear: Exploring The Auto Part Industry
Recapping Valentine’s Day 2024 Foot Traffic Trends
Fitness: A Strong Start to 2024
Dutch Bros. Continues To Percolate Visits
Super Bowl 2024:’s Postgame Foot Traffic Analysis
CAVA & sweetgreen Are On the Rise
Hats Off For Off-Price
Who Is Shopping at Malls?
Drilling Down Into Home Improvement
Walmart, Target, Costco & Superstore Space 2023 Recap
Catching Up With Shake Shack and Wingstop
Something To Chew On: Demographic Shifts at Steakhouse Chains Office Index: Looking Back at 2023
Recapping RBI & Yum! Brands’ 2023 Foot Traffic Performance White Paper Recap – January 2024
Who Shops at Anthropologie and Urban Outfitters?
Three Taco Chains to Watch in 2024
Starbucks and Dunkin’: 2023 in Four Data Points
Who Visits CVS and Walgreens?
Fashionably Frugal: Apparel in 2023
Catching Up With Fast Food
The Grocery Sector in 2023: An End-of-Year Recap
3 Mall & Shopping Center Trends for 2024
Bakery Chains Rising To The Top and Esri Partner to Deliver Geospatial Analytics
Tampa Tourism Trends
Going For The Green: The Changing Dynamics Of Country Clubs
Christmas Day Dining Recap
Major Urban Shopping Districts – Holiday Season Recap Office Index: December 2023 Recap
Recapping the 2023 Holiday Shopping Season White Paper Recap – December 2023
7 Retail & Dining Segments to Watch in 2024
Diving Into Holiday Season Favorites
Super Saturday and Christmas Eve Eve: A Winning Combination
3 Budget Grocery Chains Finishing 2023 On a High Note
Making It In America: International Chicken Chains Bring The Heat
Domestic Tourism at a Glance: A Q3 2023 Roundup
Five Pizza Chains On The Rise
Jewelry Brands Taking Advantage of the DTC Opportunity
Secondhand News: Kids' Thrift Shops
Recapping 2023’s Dining M&As
MetLife Stadium Kicks Off Football Season Office Index: November 2023 Recap
Small Coffee Chains Brewing Big Success White Paper Recap – November 2023
Thanksgiving Travel 2023 Recap