NEWS
January 25, 1995
Martin L. Grass, the 41-year-old president and chief operating officer of Rite Aid, may work in Camp Hill, Pa., but he lives in the Timonium area.This enables him to serve on the boards of the Baltimore Symphony Orchestra, Johns Hopkins Health System and the Baltimore Gas and Electric Co. It also allows him to look at sites in this city and think how they fit into the expansion strategy of the nation's leading retail drug business.In recent months, Rite Aid has decided to go to some unconventional places.
NEWS
By Eric Siegel and Eric Siegel,Sun Staff Writer | February 20, 1995
It has become all too common for business executives who want to expand in urban areas to ask not what they can do for cities, but what cities can do for them.Not Martin Grass.When his Rite Aid Corp. wanted a larger location on Howard Street, he didn't ask anyone for anything. No tax breaks or subsidies. He just bought the long-vacant Hecht Co. building, kindling hope for the long-awaited rejuvenation of the commercial corridor."We've always had a corporate attitude that if we're going to do something, just go out and do it," says Mr. Grass, 41, a Baltimore County resident who heads the nation's largest drugstore chain.
BUSINESS
By BLOOMBERG NEWS | August 28, 2001
CAMP HILL, Pa. - Rite Aid Corp., the No. 3 U.S. drugstore chain, started a national advertising campaign that highlights its pharmacists' commitment to customer service. The campaign features print ads, in-store signs and commercials on television networks including CNN, TNT, Lifetime and A&E. The spots depict pharmacists caring for patients in real-life incidents, such as a Rite Aid pharmacist giving a surprised customer a get-well card along with her medicine. The tagline for the ads is "With us, it's personal," the company said.
BUSINESS
By BLOOMBERG NEWS | July 17, 2001
CAMP HILL, Pa. - Rite Aid Corp., the target of a federal probe of its accounting practices, expects legal expenses of as much as $12 million in the next three quarters to defend against lawsuits and cooperate with investigators. The company forecast legal costs of $7 million to $12 million during the rest of the fiscal year ending in February 2002, the company said in a Securities and Exchange Commission filing. The costs do not include the $3.4 million in legal expenses the company had in the fiscal first quarter that ended June 2. Rite Aid, the third-biggest drugstore chain, is trying to boost sales and profit after three years of losses and an accounting scandal stemming from a rapid expansion under previous management.
BUSINESS
By Alec Matthew Klein and Alec Matthew Klein,Sun Staff Writer | June 29, 1995
Rite Aid Corp. yesterday continued the wheeling and dealing it began six months ago, announcing the sale of most of its Florida stores to Eckerd Corp. for $75 million in cash.With the sale of 109 stores, Camp Hill, Pa.-based Rite Aid will also close its distribution center in Melbourne, Fla., but will continue operating 24 stores in northern Florida.The deal is expected to be a financial wash for Rite Aid, the largest national drug retailer with more than 2,800 discount stores in 23 states and Washington, D.C. Cash from the sale will be offset by the cost of closing the distribution center and maintaining the leases on Florida properties not being acquired by Eckerd.
NEWS
January 25, 1995
It takes quite a leap of fancy to envision vacant Howard Street shops as galleries and performance spaces, with loft apartments on upper levels: A Baltimore version of New York's SoHo art district.That's one of the ideas for revitalizing the city's one-time retail hub, which went downhill rapidly in the 1970s after all the department stores abandoned the area.Rite Aid Corp.'s acquisition of the former Hecht Co. department store building at Howard and Lexington streets has suddenly made this vision an intriguing one. Rite Aid, the nation's largest retail drug chain, plans to use the street level for a large store.