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Article: Pharmacist's Downtown Foray Yields Surprisingly Strong Sales.(Rite Aid Corp. downtown Los Angeles store is doing well)(Brief Article)
- Article from:
- Los Angeles Business Journal
- Article date:
- November 12, 2001
- Author:
CopyrightCOPYRIGHT 2001 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Being an urban pioneer is paying off for Rite Aid Corp.
The nation's third-largest drugstore company, which has been cautiously expanding with 25 new or relocated stores a year, made a bold move last May by opening a 17,000-square-foot store in downtown L.A.'s financial core.
For some it seemed to be a gamble. But the store - located adjacent to Macy's Plaza, which is undergoing a major renovation - has become one of the chain's top-producing stores. While the company does not publicly disclose individual store financials, it did confirm that sales have surpassed projections.
"The store is doing extremely well and is ahead of our plan," said ...