Rite Aid closing at least 63 stores

[mburb1981]

154 stores will close as part of the Chapter 11 bankruptcy, mostly in California, New York state, and Pennsylvania. The full list is here.

19 Michigan stores will be among those closed. Greenville is a store that is so old it uses the stripes decor from the late 80s-early 90s, and a good number of the stores slated to close still carry the RA1 decor.

[mbz321]

Philadelphia is getting hit hard. Based on some of the listed locations, I'd say theft was a huge part of these closures.

[Bagels]

Some pretty busy Rite Aids in SoCal on that list -- all in high rent areas...

[Romr123]

looks like a pretty surgical haircut in Michigan--perhaps a little more drastic downriver (south suburban Detroit) but the ones closing seem like a pretty judicious and reasonable pruning of over-dense locations but pretty carefully retaining coverage through the entire lower peninsula and the eastern UP. Likewise Ohio appears to be a slight haircut, with multiple locations remaining in "frontier" areas like Dayton/Springfield.

[ClownLoach]

Some pretty busy Rite Aids in SoCal on that list -- all in high rent areas...

I wouldn't call Los Olivos in Irvine busy. High rent, absolutely and was a very pretty store. But it never did any volume and admittedly when I lived across the street I think I shopped there less than 5 times because it made more sense to drive across the freeway for Target or Walmart. That Whole Foods next door to Rite Aid is probably the worst performer outside of Huntington Beach-Brookhurst and I wouldn't be surprised if Amazon closes it at the first lease term expiration. I know you think the Albertsons just north will close, my bet is that Whole Foods does even worse and would be an ideal 99 Ranch, or even better the first SoCal Patel Brothers.

Back to the topic, it is pretty obvious that the closures in this wave aren't all underperforming, but include many busy and/or valuable properties where the landlords wouldn't work out a deal pre-filing for a new lease with rent reduction. Aside from that Irvine store they all probably make good money. Could be some shrink stores in there too like Costa Mesa which is in a bad spot, Anaheim Brookhurst too. I would imagine those wouldn't be worth a call to landlords to ask for rent reductions since they'd never offset the shrink losses. I haven't seen the all glass case model at Rite Aid that we see at CVS who puts 97¢ Toothbrushes and $4.99 house brand body wash under lock and key, and I suspect they'd rather close their doors versus run that kind of store.

The second wave will be the real dog stores, which probably means that they're going back to some of those landlords and saying "we can leave fee free, we want to do exactly that, give us your best and final offer for a fat reduction and we might be persuaded to stay." That's the only reason those stores weren't announced yet. I'm actually surprised about some of the stores that are still open including their embarrassing new build Winchester store but there's still time to add that to the 2nd/final closing wave.

[storewanderer]

Some pretty busy Rite Aids in SoCal on that list -- all in high rent areas...

I wouldn't call Los Olivos in Irvine busy. High rent, absolutely and was a very pretty store. But it never did any volume and admittedly when I lived across the street I think I shopped there less than 5 times because it made more sense to drive across the freeway for Target or Walmart. That Whole Foods next door to Rite Aid is probably the worst performer outside of Huntington Beach-Brookhurst and I wouldn't be surprised if Amazon closes it at the first lease term expiration. I know you think the Albertsons just north will close, my bet is that Whole Foods does even worse and would be an ideal 99 Ranch, or even better the first SoCal Patel Brothers.

Back to the topic, it is pretty obvious that the closures in this wave aren't all underperforming, but include many busy and/or valuable properties where the landlords wouldn't work out a deal pre-filing for a new lease with rent reduction. Aside from that Irvine store they all probably make good money. Could be some shrink stores in there too like Costa Mesa which is in a bad spot, Anaheim Brookhurst too. I would imagine those wouldn't be worth a call to landlords to ask for rent reductions since they'd never offset the shrink losses. I haven't seen the all glass case model at Rite Aid that we see at CVS who puts 97¢ Toothbrushes and $4.99 house brand body wash under lock and key, and I suspect they'd rather close their doors versus run that kind of store.

The second wave will be the real dog stores, which probably means that they're going back to some of those landlords and saying "we can leave fee free, we want to do exactly that, give us your best and final offer for a fat reduction and we might be persuaded to stay." That's the only reason those stores weren't announced yet. I'm actually surprised about some of the stores that are still open including their embarrassing new build Winchester store but there's still time to add that to the 2nd/final closing wave.

The stores closing in Cupertino and Santa Clara are interesting. Cupertino used to be a very high volume store. I am not sure what happened there or if it just wasn't doing well. They used to occupy the larger anchor space next to Safeway that has been subdivided then relocated out to the smaller store as part of a shopping center redevelopment (the Safeway used to house a local chain called a Joey Franco's PW which ended up going under unfortunately). Santa Clara is next to a dead Save Mart and I thought the entire site was being redeveloped; that was given a Wellness remodel right as the Walgreens merger failed in what was the "last wave" of Wellness remodels and the store looks fantastic.

Sacramento Fulton isn't the greatest area and I am not surprised it is closing. Citrus Heights unit has been rather slow for years and really I am surprised they kept this store and closed so many surrounding stores (Citrus Heights used to have like 5 Rite Aids). They should still have 1-2 stores in Citrus Heights; now they will have zero. I think both of these were quite low volume operations.

Meanwhile in my immediate area nothing is closing. I guess I've had a really blurred view of Rite Aid over the years because given there is literally no closure activity in these rural markets it is obvious these stores despite a lot of staffing problems/hours reductions/inventory cuts since 2020 must be faring a lot better than a lot of other locations. There are a couple stores in this rural block of stores east of Sacramento that I am really surprised aren't closing, but I am glad to see them hanging on.

I'm starting to get the impression that a lot of store closure decisions are being made based on theft.

Nothing except perfumes is locked up at most of the rural Rite Aid units, but the store in South Lake Tahoe has installed a bunch of locking cases all over the store; laundry detergent and a handfull of other random items that do not make sense. I don't know who approved that expense but those cases need to be gone, there is no reason for them there. This store's theft issues were internal/cashier error based, not customer based.

[mburb1981]

looks like a pretty surgical haircut in Michigan--perhaps a little more drastic downriver (south suburban Detroit) but the ones closing seem like a pretty judicious and reasonable pruning of over-dense locations but pretty carefully retaining coverage through the entire lower peninsula and the eastern UP. Likewise Ohio appears to be a slight haircut, with multiple locations remaining in "frontier" areas like Dayton/Springfield.

Taylor, which still has the RA1 decor it opened with, is the only Downriver closure.

[BillyGr]

154 stores will close as part of the Chapter 11 bankruptcy, mostly in California, New York state, and Pennsylvania. The full list is here.

19 Michigan stores will be among those closed. Greenville is a store that is so old it uses the stripes decor from the late 80s-early 90s, and a good number of the stores slated to close still carry the RA1 decor.

I think you can amend that to read New York CITY (outside of one that I saw in Rochester).

[norcalriteaidclerk]

154 stores will close as part of the Chapter 11 bankruptcy, mostly in California, New York state, and Pennsylvania. The full list is here.

19 Michigan stores will be among those closed. Greenville is a store that is so old it uses the stripes decor from the late 80s-early 90s, and a good number of the stores slated to close still carry the RA1 decor.

I think you can amend that to read New York CITY (outside of one that I saw in Rochester).

Two locations in the Buffalo suburbs(one apiece in Cheektowaga and Kenmore,each will have at least one store remaining).

[submariner]

154 stores will close as part of the Chapter 11 bankruptcy, mostly in California, New York state, and Pennsylvania. The full list is here.

19 Michigan stores will be among those closed. Greenville is a store that is so old it uses the stripes decor from the late 80s-early 90s, and a good number of the stores slated to close still carry the RA1 decor.

Here's the list for those with ad blockers:

California:
Los Angeles: 4044 Eagle Rock Boulevard
Los Angeles: 4046 South Centinela Avenue
Los Angeles: 959 Crenshaw Boulevard
Downey: 7859 Firestone Boulevard
Long Beach: 4402 Atlantic Avenue
Burbank: 935 North Hollywood Way
Covina: 139 North Grand Avenue
La Puente: 13905 Amar Road
Alhambra: 920 East Valley Boulevard
Oceanside: 3813 Plaza Drive
Ramona: 1670 Main Street
San Diego: 6505 Mission Gorge Road
San Diego: 8985 Mira Mesa Boulevard
Menifee: 25906 Newport Road
Dana Point: 24829 Del Prado
Laguna Niguel: 30222 Crown Valley Parkway
Yorba Linda: 19701 Yorba Linda Boulevard
Santa Ana: 1406 West Edinger Avenue
Ventura: 2738 East Thompson Boulevard
Oxnard: 720 North Ventura Road
Cupertino: 20572 Homestead Road
Santa Clara: 2620 El Camino Real
Santa Cruz: 901 Soquel Avenue
Atwater: 571 Bellevue Road
Citrus Heights: 5409 Sunrise Boulevard
Sacramento: 1309 Fulton Avenue
Costa Mesa: 3029 Harbor Boulevard
Ontario: 3000 South Archibald Avenue
La Mirada: 15800 Imperial Highway
Irvine: 8509 Irvine Center Drive
Monterey: 499 Alvarado Street

Connecticut:
Bethel: 289 Greenwood Avenue

Delaware:
Newark: 25 Chestnut Hill Plaza
Wilmington: 3209 Kirkwood Highway

Idaho:
Boise: 5005 West Overland Road
Meridian: 1600 North Main Street

Maryland:
Bel Air: 5 Bel Air South Parkway, Suite 1347
Elkton: 728 East Pulaski Highway
Baltimore: 5624 Baltimore National Park
Baltimore: 5804 Ritchie Highway
Glen Burnie: 7501 Ritchie Highway
Glen Burnie: 7967 Baltimore Annapolis Boulevard

Massachusetts:
Webster: 80 East Main Street

Michigan:
Fremont: 924 West Main Street
Greenville: 507 N. Lafayette Street
Grand Ledge: 715 South Clinton Street
Macomb: 15250 24 Mile Road
Sturgis: 102 North Centerville Road
Wixom: 47300 Pontiac Trail
Clinton Township: 35250 South Gratiot Avenue
Clinton Township: 36485 Garfield Road
Shelby Township: 51037 Van Dyke Avenue
Jackson: 3100 East Michigan Avenue
Taylor: 9155 Telegraph Road
Manistee: 1243 US 31 South
Garden City: 29447 Ford Road
Flint: 2838 East Court Street
Flint: 1124 North Ballenger Highway
Detroit: 1900 East 8 Mile Road
Farmington Hills: 25922 Middlebelt Road
St. Johns: 109 North Whittemore Street
Lansing: 2701 South Cedar Stret

New Hampshire:
Merrimack: 420 Daniel Webster Highway

New Jersey:
West Milford: 3 Marshall Hill Road
Mantua: 210 Bridgeton Pike
Mullica Hill: 108 Swedesboro Road, Suite 20
Robbinsville: 2370 Route 33
Toms River: 1726 Route 37 East
Whiting: 86 B Lacey Road
Tinton Falls: 4057 Asbury Avenue, Suite 8
Haledon: 431 Haledon Avenue
Irvington: 35 Mill Road
Lumberton: 1636 Route 38, Suite 49
Somerset: 773 Hamilton Street
Williamstown: 1434 S. Black Horse Pike

New York:
Brooklyn: 2981 Ocean Avenue, 2002 Avenue U
Oceanside: 3199 Long Beach Road
Valley Stream: 198 West Merrick Road
Bay Shore: 836 Sunrise Highway
Bellmore: 2784 Sunrise Highway
Copiague: 901 Merrick Road
East Northport: 577 Larkfield Road
Huntington Station: 695 East Jericho Turnpike
Medford: 700-43 Patchogue-Yaphank Road
Oyster Bay: 273 Pine Hollow Road
West Patchogue: 397 Sunrise Highway
Port Jeff Station: 593 Old Town Road
Smithtown: 65 Route 11
Kenmore: 2453 Elmwood Avenue
Rochester: 1567 Penfield Road
Cheektowaga: 2887 Harlem Road
Floral Park: 2 Whitney Avenue
Flushing: 71-18 Kissena Boulevard
Levittown: 3131 Hempstead Turnpike

Ohio:
Massillon: 3129 Lincoln Way East
New Carlisle: 120 South Main Street
Dayton: 146 Woodman Drive
Youngstown: 2701 Market Street
Springfield: 401 West North Street
Bellefontaine: 230 South Main Street

Oregon:
Portland: 2440 SE Cesar E Chavez Boulevard

Pennsylvania:
Quakertown: 1080 S. West End Boulevard
New Kensington: 700 Stevenson Boulevard
Rochester: 351 Brighton Avenue
Bethel Park: 5235 Library Road
Moon Township: 5990 University Boulevard, Suite 30
Pittsburgh: 2501 Saw Mill Run Boulevard, 5410 Keeport Drive
Greensburg: 6090 Route 30
Export: 4830 William Penn Highway
New Castle: 1730 Wilmington Road
Bethlehem: 2178 W. Union Boulevard
Allentown: 1628 South Fourth Street
Philadelphia: 2401 East Venango Street
Philadelphia: 6327-43 Torresdale Avenue
Philadelphia: 5612 N. Fifth Street
Philadelphia: 4011 Cottman Avenue
Philadelphia: 11750 Bustleton Avenue
Philadelphia: 1315 East Washington Lane
Philadelphia: 2801 W. Dauphin Street
Philadelphia: 8235 Stenton Avenue
Philadelphia: 7941 Oxford Avenue
Philadelphia: 136 North 63rd Street
Philadelphia: 5440 Lansdowne Avenue
Conshohocken: 200 W. Ridge Avenue, Suite 112
Hanover: 301 Eisenhower Drive
Mechanicsburg: 7036 Wertzville Road
Erie: 2715 Parade Street, 1709 Liberty Street
Pennsburg: 350 Main Street
Abington: 1441 Old York Road
Johnstown: 300 Market Street
Levittown: 8716 New Falls Road
Ardmore: 169 West Lancaster Avenue
West Pittston: 801 Wyoming Avenue, Suite 9
Yardley: 657 Heacock Road
Tobyhanna: 674 Route 196, Suite 14
Yeadon: 950 East Baltimore Pike
Chester: 2722 West 9th Street
Titusville: 208 East Central Avenue

Virginia:
Chesapeake: 1458 Mount Pleasant Road
Chesapeake: 833 North Battlefield Boulevard

Washington:
Seattle: 9600 15th Avenue SW
Lynnwood: 2518 196th Street SW
Bellevue: 3620 Factoria Boulevard SE
Bellevue: 11919 NE 8th Street
Redmond: 7370 170th Avenue NE
Graham: 22201 Meridian Avenue E
Renton: 601 South Grady Way, Suite P
Mill Creek: 3202 132nd Street Southeast
Burien: 110 SW 148th Street
Everett: 10103 Evergreen Way
Lacey: 8230 Martin Way East