Rite Aid is bankrupt, and might not make it out of bankruptcy. Even if they do come out, what's left of the company at that point? They've been closing stores and distribution centers, and their financial woes continue to mount.
Walgreens just announced the closure of potentially thousands of stores. possibly over 2,000 stores. And the CEO publicly stated that the current pharmacy model is unsustainable, and didn't rule out additional closures beyond what they just announced. They too are having significant financial issues, and the stock sank 22% today. Walgreens is in danger of falling under $10 a share. OUCH...
CVS just had a horrible first quarter, thanks to the senior execs who were asleep at the wheel. Medicare Advantage membership will be down significantly next year, the stock is tanking, and the CFO publicly stated that they need to get their financial house in order. (That just means "hard decisions" need to be made) They are also in the process of finishing up closing 900 stores over the past three years, and I can almost guarantee you that future closures beyond this are not off the table.
Don't stick your heads in the sand people, retail pharmacy is dying. PBM's are ki-ling the retail RX model, and companies are slow to respond. And while there is money to be made in health care, it's an expensive enterprise, with alot of risk involved. Not to mention competition from the big "A" (amazon) is also cutting into these companies profits. What ever you do, don't just be a mindless company follower. Keep your eyes wide open. Remember that Sears was once THE #1 retailer in the world, and look what happened to them. I know different business, not pharmacy, but the warning is still relevant. Retail pharmacy was once considered recession proof, and an industry that was safe and secure. The post-covid world has shown that's no longer the case. At any time you could be laid off and your store/wharehouse/office could be closed. CVS will probably last the longest because their the biggest, but Rite Aid is done, Walgreens is next, and the next time you make the heart symbol with your hands in front of the camera for social media, just know that Corporate would drop you like a bad habit to save their own skin.