Could Rite Aid Board Connections to Retail Industry Help Reverse Sales Decrease?

Santa appears to have left coal in Rite Aid Corp’s stocking this Christmas season, leaving the retail chain with a five percent slump in sales for the month of December 2007 over the same four-week period for the prior year, according to a company statement.

Rite Aid operates a total of 5,088 stores in 31 states, making it one of the nation's leading drugstore chains.

The company said that new generic introductions fell 443 basis points, and front-end same-store sales decreased 1.2 percent.  Yet the company’s prescription sales remain strong.  Prescription revenue accounted for 61.8 percent of drugstore sales, and third party prescription revenue represented approximately 96.1 percent of pharmacy sales. Prescription revenue accounted for 61.8 percent of drugstore sales, and third party prescription revenue represented approximately 96.1 percent of pharmacy sales.

NewsVisual created an IntellectSpace Knowledge Map that illustrates the business connections among Rite Aid’s Board of Directors.

The Knowledge Map shows that several of the company’s Directors have strong retail-industry connections, which they can draw from in order to advise its Management Team.  The following ones have the strongest board room connections in the retail industry:

Directors Robert G Miller and Philip G Satre both also serve on the board of Nordstrom Inc; Director Marcy Syms also serves as the CEO and as a Director for Syms Corp; Director George G Golleher is also on the board of Linens n Things; and Director Robert A Mariano is the CEO/Chairman of Roundy’s Supermarkets Inc.

(Note: the information contained and presented in Knowledge Maps is public information from the Securities and Exchange Commission of the United States of America).

Click here or copy this link into your Internet Explorer browser for an interactive version of this IntellectSpace Knowledge Map: http://nv.intellectspace.com/ispace/GuestMonitor.aspx?id=902cedcf-b5c8-4b45-9d30-b6da537f7d43