New Message today from Chairman of Rite Aid Stores
June 5, 2017
Dear Rite Aid Team,
Today we wanted to provide you with an update regarding our pending merger with Walgreens Boots Alliance (WBA) and the proposed sale of certain Rite Aid stores to Fred’s. The Federal Trade Commission’s (FTC) review of our proposed merger has taken longer than expected, which has had a negative impact on our results. As a management team, we regret that this has created uncertainty and a challenging work environment for all of us at Rite Aid. We greatly appreciate the dedication you’ve displayed during this time and your tremendous efforts to serve our customers and support our fellow Rite Aid associates.
We remain actively engaged in discussions with the FTC to attempt to gain regulatory approval and there can be no guarantee that the merger will be approved. However, we expect a decision sometime soon.
At the same time, we also continue to work diligently in reviewing our strategy and making necessary changes to improve our performance. Our Rite Aid team has worked hard over the past few years to develop a robust health and wellness platform that is both strong and unique in the retail drugstore space. We will continue to build from this strong foundation as we also focus on operational efficiency, investing in growth opportunities and delivering a consistently outstanding experience to our customers and patients.
We will provide updates regarding the merger as we can. As we near a resolution, we want to again thank you for your outstanding efforts. We have a tremendous team here at Rite Aid, and your patience, professionalism and dedication during this regulatory review period has been exceptional.
Thanks for your continued commitment to doing great work and for all you do to make Rite Aid a trusted health and wellness destination in the communities we serve.
Sincerely,
John Standley
Ken Martindale
Rite Aid Chairman and CEO
CEO of Rite Aid Stores
President of Rite Aid Corporation
