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Rite Aid Stock Down By Nearly 50% Year-To-Date
Rite Aid has been struggling along with other local retail stores in the past few years. To better improve their situation, they have linked up with Amazon so that their customers can now buy online and pick up in-store. Rite Aid drugstores are getting the big boost they will need to survive while other stores are closing down.
Shares of Rite Aid have increased by 8% this Thursday since Amazon has announced the new service called “Counter.” Amazon shoppers will are now able to pick up packages at any one of the 1,500 Rite Aid locations by the end of this year.
Amazon has been adding programs like this in other retail stores like Best Buy and Kohl. Customers can buy online or in Amazon products like Fire TV to make local pickups.
Even though Rite Aid is still down nearly 50% year-to-date, they are looking forward to the boost in foot traffic in stores across the nation and increase stock value with this new Amazon program.
