Rite Aid is wowing with its Wellness Stores, a new format that the chain’s U.S. stores are embodying as the company moves full speed ahead into its merger with Albertsons. The goal is to differentiate itself from competitors with a focus on “food, health, and wellness.”
In the stand-alone Wellness Store format, organic and gluten-free food, clinical pharmacy services, and health and wellness products will be offered, Forbes reports. In this newest round of remodels, 38 stores are getting the wellness-focused redesign, totaling 1,805 Wellness Stores—or two-thirds of the overall store count—according to a recent fourth quarter announcement.
The next phase of this remodel process includes another 132 stores during Fiscal 2019.
The merger with Albertsons is expected to conclude during the second half of this year, and to prep for the transition, Rite Aid recently shed 1,900 stores to Walgreens Boots Alliance at the end of March, the news source explains. This, now, brings the grand total of transferred stores between the two to 1,932; Rite Aid also transferred three distribution centers. Walgreens paid $4.4 billion in cash for the stores and distribution centers since antitrust issues prevented the chain from purchasing all Rite Aid stores.
In a cash and stock deal, Rite Aid’s new partner, Albertsons, is taking on the remaining 2,500 Rite Aids, including EnvisionRX PBM. The deal between the two was announced earlier this year and offers Rite Aid shareholders ownership between 28 percent and 29.6 percent of the combined company, the news source relays.
Fiscal 2018’s fourth quarter brought about a net income of $767.1 million, of 73 cents per share, while the same time the year prior brought a net loss of $21 million, or two cents a share.
Will this remodeling transition offer new opportunities to gain snacking options? Deli Market News will continue to report.