Thursday, December 20, 2007

Today's "Dog Ate My Homework" award goes to...

Rite Aid Pharmacy.

Retailers use the dog ate my homework line all the time via the weather. Sales bad in November? Not to worry it was too cold and everyone was at home instead of shopping. Sales bad in July? Not to worry it was too hot and everyone was at the swimming pool instead of shopping.

But Rite Aid has set a new low in excuses. Not enough people got sick last quarter. No, really, that was the excuse they have for piss poor earnings.

NEW YORK, Dec 20 (Reuters) - Rite Aid Corp (RAD.N: Quote, Profile, Research) said on Thursday that a slow flu season and cautious consumers led it to post a wider-than-expected quarterly loss and cut its full-year forecast, sending shares down 27 percent to their lowest level in more than three years.
A slow flu season? OK so then I take it next quarter when the flu season speeds up Rite Aid should make up for it. Come on people, start getting sick will you, the CEO's $10M bonus is depending on it.

As it so happens there is a Rite Aid close to me. It is one of the most poorly run stores I have ever been it, pharmacy or otherwise. It has a dairy section that is always empty. On two occasions I have gone there to get eggs, only to find the egg shelf empty. The pharmacy must also set some kind of record for slowest prescription fills.

Hey Rite Aid, fix things like that and you will see your loss go away PDQ. Or you can pretend your problems are caused by a lack of sick people.

No comments: