However, the company has been trying to enhance its digital capabilities for driving growth and developing stronger relationships with its customers. Rite will amend marketing investments for attracting customers into its digital channels, resulting in higher in-store and online revenue.
The digital business, which remained a significant opportunity for the company, has risen relatively small during the second quarter. In the long term, the digital business could turn out to be the major contributor to growth for Rite Aid.
The company continues to face weakness in the Retail Pharmacy segment due to lower foot traffic count at its stores. The company could turn beneficial in the future as its partnership with Amazon (NASDAQ: AMZN) for adding locker and counter services will drive additional traffic and attract new customers to Rite Aid stores.
Despite this, the company’s Medicare Part D enrollment continues to expand and now has roughly 672,000 enrolled Part D members for 2019. Rite Aid has been focusing on certain areas for improving operating performance, cost structure, and service levels.
The company remained very optimistic about the company’s growth prospects in the future. Also, the company could be beneficial by the investments in the attraction of the customers into its stores. These are likely to be the driving factor of the stock.
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