Rite Aid closing at least 63 stores

[kr.abs.swy]

Coos Bay/North Bend seems to have had a rough time with chain retailers lately. Macy's and JC Penney both left. The Albertsons closed under SuperValu. Rite Aid is leaving. The Fred Meyer store is probably in the worst condition of any store in the chain -- certainly the worst condition of any Fred Meyer I can think about right now. There's no Target, Home Depot or Lowe's. It's a fairly isolated town out on the coast -- long drive from Eugene or Medford -- so you'd expect some of these stores to do okay. The Safeways, Walmart and Walgreen's stores all look fairly standard, although the Safeway in Coos Bay was originally something else.

[storewanderer]

Coos Bay/North Bend seems to have had a rough time with chain retailers lately. Macy's and JC Penney both left. The Albertsons closed under SuperValu. Rite Aid is leaving. The Fred Meyer store is probably in the worst condition of any store in the chain -- certainly the worst condition of any Fred Meyer I can think about right now. There's no Target, Home Depot or Lowe's. It's a fairly isolated town out on the coast -- long drive from Eugene or Medford -- so you'd expect some of these stores to do okay. The Safeways, Walmart and Walgreen's stores all look fairly standard, although the Safeway in Coos Bay was originally something else.

That Macy's was really awful, it was not the right building for a Macy's, too small, and the market is too small. JC Penney probably was appropriate to stay but they made their decision.

I am not surprised with a lack of Target, not their kind of market. But Lowe's and Home Depot it is interesting one of them is not there; maybe they could not get a space approved.

Just odd to see Rite Aid leaving. I used to think Rite Aid needed a second store in Coos Bay itself too but there didn't seem to be a great spot for one.

[Super S]

Coos Bay/North Bend seems to have had a rough time with chain retailers lately. Macy's and JC Penney both left. The Albertsons closed under SuperValu. Rite Aid is leaving. The Fred Meyer store is probably in the worst condition of any store in the chain -- certainly the worst condition of any Fred Meyer I can think about right now. There's no Target, Home Depot or Lowe's. It's a fairly isolated town out on the coast -- long drive from Eugene or Medford -- so you'd expect some of these stores to do okay. The Safeways, Walmart and Walgreen's stores all look fairly standard, although the Safeway in Coos Bay was originally something else.

That Macy's was really awful, it was not the right building for a Macy's, too small, and the market is too small. JC Penney probably was appropriate to stay but they made their decision.

I am not surprised with a lack of Target, not their kind of market. But Lowe's and Home Depot it is interesting one of them is not there; maybe they could not get a space approved.

Just odd to see Rite Aid leaving. I used to think Rite Aid needed a second store in Coos Bay itself too but there didn't seem to be a great spot for one.

About the only area of the Oregon Coast chain retailers in large numbers seem to be interested in is the Warrenton/Astoria/Seaside area, where you have Home Depot, Rite Aid, Costco, Fred Meyer, Walgreens, Walmart, Safeway, as well as others such as a new-build Goodwill store, O'Reilly Auto Parts, Auto Zone, Tractor Supply, Ross, a handful of smaller national retailers which have opened in the area of Costco, and several fast food chains such as Wendy's which are not present elsewhere along the coast. WinCo is reportedly looking at sites in Seaside and Warrenton.

Lincoln City doesn't have a lot of interest from chains other than the outlet stores there.

While Walmart, Safeway, Walgreens and Fred Meyer do have other coastal locations, these vary in age and appearance with a mix of newer and older buildings. I do find it odd that Rite Aid is leaving a town such as Coos Bay where choices are more limited. Macy's is not a good fit for coastal towns. JCPenney is moving away from the smaller stores (they closed the Astoria store).

Several of the current Rite Aid stores opened as PayLess Drug. In those days, the stores served as more of a general merchandise store as they were much larger than a typical Rite Aid. They also had better prices, and, at least when they opened, did not have much competition around. Rite Aid has consolidated many of these into smaller spaces and is not really interested in running larger general merchandise stores.

[norcalriteaidclerk]

https://ilovetheupperwestside.com/rite- ... ide-store/

First battery Park City now the upper West Side.If the rumors of RAD pulling out of Manhattan are true this would be a really ominous sign.Already three reported 2023 closures chainwide(two verified by news articles both in the five boroughs),but mercifully no California closures so far.*knocks on wood*

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[Alpha8472]

The Rite Aid with the rain damage is still boarded up and closed. It may take a while before it ever opens again.

The customers will most likely switch to nearby competitors as the nearest Rite Aid is quite far. Once you lose prescription customers, it is difficult to get them back. The store may never recover from this. This shopping center has been somewhat dead for a while. Sprouts is not drawing in customers like it used to. If the only major anchor is Sprouts, then this shopping center is going to suffer.

[storewanderer]

About the only area of the Oregon Coast chain retailers in large numbers seem to be interested in is the Warrenton/Astoria/Seaside area, where you have Home Depot, Rite Aid, Costco, Fred Meyer, Walgreens, Walmart, Safeway, as well as others such as a new-build Goodwill store, O'Reilly Auto Parts, Auto Zone, Tractor Supply, Ross, a handful of smaller national retailers which have opened in the area of Costco, and several fast food chains such as Wendy's which are not present elsewhere along the coast. WinCo is reportedly looking at sites in Seaside and Warrenton.

Lincoln City doesn't have a lot of interest from chains other than the outlet stores there.

While Walmart, Safeway, Walgreens and Fred Meyer do have other coastal locations, these vary in age and appearance with a mix of newer and older buildings. I do find it odd that Rite Aid is leaving a town such as Coos Bay where choices are more limited. Macy's is not a good fit for coastal towns. JCPenney is moving away from the smaller stores (they closed the Astoria store).

Several of the current Rite Aid stores opened as PayLess Drug. In those days, the stores served as more of a general merchandise store as they were much larger than a typical Rite Aid. They also had better prices, and, at least when they opened, did not have much competition around. Rite Aid has consolidated many of these into smaller spaces and is not really interested in running larger general merchandise stores.

There used to be a Wendy's in Lincoln City but it went out of business. It was a mid 90's building. It was split between Taco Time and Starbucks when it closed. Taco Time didn't last long.

I really wonder if this Rite Aid closure in North Bend is a screw up. Like, did the people who decide to close stores look at Bend and say okay we already have 2 stores in Bend, we don't need a third store in North Bend. Not realizing that Bend and North Bend are many hours apart...?

If this North Bend Rite Aid appears on that surplus real estate listing with years left on its lease then I really have no clue what is going on with this chain.

[Super S]

There used to be a Wendy's in Lincoln City but it went out of business. It was a mid 90's building. It was split between Taco Time and Starbucks when it closed. Taco Time didn't last long.

I really wonder if this Rite Aid closure in North Bend is a screw up. Like, did the people who decide to close stores look at Bend and say okay we already have 2 stores in Bend, we don't need a third store in North Bend. Not realizing that Bend and North Bend are many hours apart...?

If this North Bend Rite Aid appears on that surplus real estate listing with years left on its lease then I really have no clue what is going on with this chain.

I know there are a few former Wendy's locations along the Oregon Coast. There was another that was a Subway. It's an area that either Wendy's abandoned, or where the franchise operator bailed on.

As for Bend & North Bend...I am sure that Rite Aid has records of addresses and zip codes which would clearly show that those stores are in two different areas. It is very easy to find them on the internet. I don't think the people deciding to close stores are that stupid.

[bryceleinan]

What I’ve heard about the North Bend store is the same thing I’ve heard about Brookings - they operated without a pharmacist for a while. As far as other chains in the area, I know Home Depot and Fred Meyer were supposed to build new stores near the Coos Bay waterfront, and both chains pulled out for various reasons.

Wendy’s has a store in Coos Bay, not sure how busy it is through. I know the former TacoTime was always busy, however, the owner retired and sold the building to a real estate company. Arby’s, Mod Pizza, and Starbucks are all building new locations in front of Walmart, so something is going right in the area.

[storewanderer]

I know there are a few former Wendy's locations along the Oregon Coast. There was another that was a Subway. It's an area that either Wendy's abandoned, or where the franchise operator bailed on.

As for Bend & North Bend...I am sure that Rite Aid has records of addresses and zip codes which would clearly show that those stores are in two different areas. It is very easy to find them on the internet. I don't think the people deciding to close stores are that stupid.

I hope you are right but some of the closures of the current Rite Aid store closure program make me question exactly what is going on. It would be very easy to look at Google Maps and see that you have stores that are only about 10 years old, in growing areas, especially if you still have years on the lease left, and wonder why you are closing them.

We have seen relatively few Rite Aid closures that are an exit from a 25k population area like this though. This is a rather unique closure in my opinion.

If the store had no pharmacist for a while maybe they killed their business in the town and now they are having to close.

[norcalriteaidclerk]

https://www.forbes.com/sites/brucejapse ... ore-chain/
https://finance.yahoo.com/news/rite-aid ... 00742.html

PHILADELPHIA, January 09, 2023--Rite Aid Corporation (NYSE: RAD) ("Rite Aid" or the "Company") announced today that its Board of Directors has appointed Elizab...

Now it has truly gotten interesting.Trying to not yet call this a potential cure worse that the disease.In any case,we should be grateful to have Bob Miller-era holdover Matt Schroeder in a high position of power.

Yet a another Manhattan closure to report,the third already since 2023 began.


News article link
https://localtoday.news/nj/rite-aid-is- ... 28837.html

...as well as one of the first 2023 California closures(in the city where Thrifty Drug was born)...



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