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https://www.wsj.com/articles/rite-aid-seeks-direction-as-pressure-mounts-1aec8388

Rite Aid Seeks Direction as Pressure Mounts

Cash-strapped drugstore chain is looking for a permanent leader amid declining demand and looming legal challenges

By Sabela Ojea
Rite Aid has said it aims to keep cutting expenses through 2024 by ramping up store closures and shrinking its workforce. Photo: Mario Tama/Getty Images

Rite Aid Corp.’s cash reserves are dwindling, a lawsuit is looming and sales are slowing ahead of the drugstore chain’s fourth-quarter earnings on Thursday.

Meanwhile, investors are waiting for the company to name a permanent chief executive to chart a path to growth as demand wanes for Covid-19 booster shots and testing services. 

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Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.