Augusta Economy

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Rite Aid closing one area store

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The Rite Aid pharmacy and store on the corner of Washington Road and Alexander Drive in Augusta has closed because of poor financial performance, a spokesman confirmed Monday.

"It was no longer profitable for us to operate at this location," Eric Harkreader, a spokesman for the pharmacy chain, said of the store at 2745 Washington Road.

The store closed Friday, and patient prescriptions were transferred across the street to the Walgreens pharmacy at 2744 Washington Road, Harkreader said.

Patients were notified ahead of the closing and could pick up their prescriptions at Walgreens starting Saturday, he said.

The Rite Aid store will reopen Saturday, and all merchandise, excluding prescriptions, will be marked 50 percent off. The store will likely remain open for liquidation for several weeks, or until enough of the merchandise has been bought, Harkreader said.

The decision was made as part of routine reviews Rite Aid does for all of its stores. The lagging sales predated road work on Alexander Drive, which has blocked one of the store's entrances, the spokesman said.

"The road construction probably didn't help," he said.

Rite Aid still has eight other locations within 20 miles of the store.

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TeamLoser
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TeamLoser 12/06/10 - 07:16 pm
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It was never a good place to

It was never a good place to get in and out of in my opinion, construction just made it worse.

I might have to check the marked down stuff.

InChristLove
22468
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InChristLove 12/06/10 - 07:40 pm
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I'm all for 50% off but I

I'm all for 50% off but I wonder why they don't transfer most of their merchandise to the other eight locations so Rite Aid doesn't loose revenue or are these franchised stores?

dougk
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dougk 12/06/10 - 08:13 pm
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It's much more cost-efficient
Unpublished

It's much more cost-efficient to let customers haul it away for cheap than to pay other folks to haul it, inventory it, and shelve it somewhere else.

InChristLove
22468
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InChristLove 12/06/10 - 08:15 pm
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Thanks dougk, never thought

Thanks dougk, never thought of it like that but makes sense.

tuffenuf4u
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tuffenuf4u 12/06/10 - 08:15 pm
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Also there is the inventory

Also there is the inventory tax if it is transferred to other stores.

humbleopinion
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humbleopinion 12/06/10 - 09:10 pm
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Bless them for transferring

Bless them for transferring the 'scripts to Walgreens across the street. Most people who use the pharmacy live in the area and would not want to travel to 15th and Walton Way for their medicines. More than likely they sold the prescription records to Walgreens from this store. As for the inventory tax, that is news to me if they transfer it within their system. More than likely they are better taxwise to sell the merchandise at a slight loss (most retailers of this size will have a 50% or better profit margin on their front end items) and take the tax loss on this. All of the Rite Aids in the upstate recently converted their stores to Sav A Lot food stores with the pharmacy remaining in the back. Among the top pharmacy chains they will be the next to close completely or attempt to sell off their stores. Walgreens and CVS are financially stable but Rite Aid has struggled for years.

augusta citizen
9137
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augusta citizen 12/06/10 - 09:21 pm
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Too bad, they seem to put so

Too bad, they seem to put so much money into these locations. I wonder whenever I drive by all of these new businesses why they have to be so expensive. Anymore the banks, drugstores, etc. seem to be competing for biggest, look at me status.

charliemanson
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charliemanson 12/06/10 - 11:27 pm
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About time they closed down

About time they closed down that Rite-Aid. I never did see more than 5 customers at any given time in that store.

alycias
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alycias 12/06/10 - 11:55 pm
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I liked it cause it was never

I liked it cause it was never crowded and cause I could find what I was looking for usually, things the other stores didn't have!

RoadKing
105
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RoadKing 12/07/10 - 01:33 am
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Surprised they lasted this

Surprised they lasted this long. Highest prices around and closing each night at 6pm. Rite Aid, what did you expect ??

gnumbgnuts
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gnumbgnuts 12/07/10 - 08:48 am
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Rite Aid? Never heard of it.

Rite Aid? Never heard of it.

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