John Standley
Melissa Campanelli is Editor-in-Chief of Total Retail. She is an industry veteran, having covered all aspects of retail, tech, digital, e-commerce, and marketing over the past 20 years. Melissa is also the co-founder of the Women in Retail Leadership Circle.
Joe Keenan is the executive editor of Total Retail. Joe has more than 10 years experience covering the retail industry, and enjoys profiling innovative companies and people in the space.
Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that it narrowed its loss in the first quarter to $28.1 million, from a loss of $63.1 million in the year-ago quarter. Revenue rose 1.2% to $6.5 billion from $6.4 billion, edging Wall Street’s forecasted $6.47 billion in revenue. Same-store sales increased 2.5% in the quarter. “Our turnaround efforts continue to be successful as demonstrated by our sixth consecutive quarter of increased same-store sales,” said Rite Aid chairman, president and CEO John Standley. “The ground-breaking Wellness store format continued to gain traction.”
New York City -- Rite Aid has started the rollout of its new wellness store format, with 40 stores completed as of the end of the second quarter (Aug. 27, 2011). It expects to complete a total of some 300 wellness remodels in its current fiscal year, management said during a conference call with investors. “Our new wellness format is all about empowering our customers in their pursuit of wellness,” Rite Aid president and CEO John Standley said during the call. “Customers are telling us they like the look and feel of these stores, which offer expanded clinical pharmacy
Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that it narrowed its loss in the quarter ended Aug. 27 to $94.7 million, from $199.3 million in the year earlier period. Revenue rose 1.8% in the quarter to $6.3 billion, and same-store sales – as previously reported – increased 2.2%. The drugstore retailer has modified its outlook, now expecting smaller losses for fiscal 2012 than originally anticipated. “We are pleased with the continued improvement in our top-line results, highlighted by three consecutive quarters of same-store sales growth,” said John Standley, Rite Aid president and CEO. Rite Aid launched the
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