Rite Aid Corporation, originally known as Thrift D Discount Center, was founded in September 1962 in Scranton, Pennsylvania by Alex Grass. It later expanded and became one of the largest drugstore chains in the United States.

In 1965, Rite Aid expanded its operations to Connecticut, increasing its store count to 25.

In 1966, the first Rite Aid pharmacy was established in one of the firm's drugstores in New Rochelle, New York.

In 1968, the company officially changed its name to Rite Aid Corporation.

In 1970, Rite Aid's stock moved over to the New York Stock Exchange (NYSE).

In 1971, Rite Aid acquired Sera-Tec Biologicals, Inc., marking a period of rapid growth for the company.

By 1972, Rite Aid had expanded rapidly to 267 locations in 10 states after a public stock offering. The company experienced significant growth under the leadership of Alex Grass.

By 1976, Rite Aid acquired the 52-store Keystone Centers, Inc., expanding its presence in Pennsylvania and New Jersey.

In 1979, Rite Aid acquired six U-Save stores in North Carolina and eastern Tennessee, as well as nine Shop Rite stores in the Hudson Valley.

In 1980, Rite Aid became one of the nation’s largest suppliers of plasma with the opening of its ninth plasmapheresis center.

In 1981, Rite Aid achieved the status of being the third-largest retail drugstore chain in the United States. This marked a milestone in the company's growth and expansion.

In 1982, Rite Aid became the largest United States drug chain in terms of stores and market share in several states.

In 1983, Rite Aid reached a significant milestone by achieving $1 billion in sales.

In 1984, Rite Aid expanded its operations to Michigan through a series of acquisitions.

In 1987, Rite Aid acquired Gray Drug, adding 420 stores in 11 states and becoming the largest drugstore chain in the U.S. with over 2,000 stores.

In 1988, Rite Aid acquired the Begley Company and the balance of Gray Drug Fair, expanding its presence in Kentucky and several other states.

In 1989, Rite Aid acquired 99 People’s Drug Stores and 18 Lane Drug units, continuing its expansion.

In 1995, Rite Aid sold all of its Massachusetts stores to Brooks Eckerd. This transaction was part of the history leading to the eventual acquisition of Brooks Eckerd by Rite Aid.

By 1996, Rite Aid had doubled in size to 4,000 stores through various acquisitions, including Read’s Drug Store, Lane Drug, Hook's Drug, Harco, K&B, Perry Drug Stores, and Thrifty PayLess.

In 1998, Rite Aid expanded its presence to the West Coast and Gulf Coast region through the acquisitions of Thrifty PayLess Holdings, Inc., Harco, Inc., & K & B Inc., which added over 1,000 stores to the company.

Rite Aid acquired pharmacy benefits manager PCS Health Systems in 1999.

In July 2001, Rite Aid agreed to enhance its pharmacy complaint process by implementing a new program to address consumer complaints. This initiative aimed to improve customer satisfaction and service quality.

In 2002, the SEC announced criminal charges against top Rite Aid executives for accounting fraud. CEO Martin Grass, son of the founder, served six years in prison.

Martin Grass, the former CEO of Rite Aid and son of the company's founder, was sentenced to eight years in prison in 2003 for his role in overstating net income through fraudulent schemes, marking a severe punishment for accounting-related crimes.

On July 25, 2004, Rite Aid agreed to pay $7 million to settle allegations of submitting false prescription claims to United States government health insurance programs.

On August 23, 2006, The Wall Street Journal announced that Rite Aid would acquire Brooks Eckerd, with 1,858 Eckerd Pharmacy and Brooks Pharmacy stores, from the Quebec-based Jean Coutu Group for US$3.4 billion. The merger was approved by shareholders on January 18, 2007, and finalized on June 4 of the same year.

Following the acquisition, Rite Aid announced that all Eckerd stores would be rebranded, retiring the 109-year-old Eckerd banner. By September 2007, all stores had been converted to Rite Aid.

On January 4, 2008, Rite Aid announced the closure of all 28 of its stores in the Las Vegas Valley, selling patient prescription files to Walgreens due to Las Vegas being a non-core market.

In 2008, Rite Aid saw record-breaking losses, with shares falling over 75% between September 2007 and September 2008. The stock closed at a low of $0.98 on September 11, 2008.

On February 5, 2009, Rite Aid announced the termination of operations of seven stores in San Francisco and five stores in eastern Idaho through a sale to Walgreens.

Founder Alex Grass passed away from cancer on August 27, 2009.

Rite Aid introduced the Wellness+ card, a free shopping rewards card, nationwide on April 18, 2010. It later became part of the Plenti rewards program backed by American Express before transitioning to the Wellness+ BonusCash program in 2018.

In 2014, Rite Aid acquired Health Dialog, a company providing personalized healthcare coaching and disease management services.

On October 27, 2015, Walgreens Boots Alliance revealed plans to acquire Rite Aid for $9.4 billion, aiming to become the largest pharmacy chain in the US.

On February 4, 2016, Rite Aid shareholders approved the $9 per share takeover offer from Walgreens, signaling the end of an era for the Pennsylvania-based pharmacy chain.

Rite Aid announced the sale of 865 stores to Fred's for $950 million to address antitrust concerns, but the FTC requested the sale of 650 additional stores.

Walgreens announced the cancellation of the merger with Rite Aid on June 29, 2017, and instead offered to purchase 2,186 Rite Aid stores.

On January 1, 2018, Rite Aid replaced the Plenti points system with Wellness+ BonusCash, allowing customers to earn rewards that could only be redeemed at Rite Aid locations.

On February 20, 2018, supermarket retailer Albertsons announced a deal to acquire Rite Aid for $24 billion.

The revised deal where Walgreens purchased 1,932 Rite Aid locations for $4.38 billion was approved by the FTC on September 19 and completed on March 27, 2018.

On August 8, 2018, the night before the scheduled shareholder vote, Albertsons and Rite Aid decided to cancel their merger plans due to opposition from Rite Aid's shareholders.

On September 14, 2018, the Court granted preliminary approval of the $18 million settlement in the Hall v. Rite Aid Corporation lawsuit regarding employee seating.

To address the non-compliance issue, Rite Aid implemented a 1-for-20 reverse stock split, which increased the stock price above the required threshold. Subsequently, the stock began trading around $10 per share.

In June 2019, Amazon announced a partnership with Rite Aid to offer Amazon shoppers the option to pick up purchases at designated counters in over 100 Rite Aid stores across the US, expanding the convenience of online shopping.

In July 2020, it was reported that Rite Aid had used facial recognition video surveillance systems at some retail locations, which were later discontinued in response to concerns.

In October 2020, Rite Aid announced the acquisition of Bartell Drugs, a 67-location Seattle-area chain, for $95 million.

In April 2021, Rite Aid disclosed its full-year earnings for the 2021 fiscal year. The company reported an adjusted EBITDA for continuing operations of $437.7 million, a decrease from the previous year's $538.2 million. Additionally, Rite Aid reported a net loss from continuing operations of $100.1 million for the year.

On July 14, 2022, Rite Aid settled for $10.5 million with counties in Georgia, North Carolina, and Ohio to avoid upcoming trials related to the opioid epidemic in the U.S.

The Rite Aid 60th Anniversary Sweepstakes starts at 12:00 a.m. ET on September 11, 2022, marking the beginning of the promotional event.

The Rite Aid 60th Anniversary Sweepstakes concludes at 11:59 p.m. ET on October 22, 2022, signifying the end of the promotional period.

The names of the winners of the Rite Aid 60th Anniversary Sweepstakes will be available after November 15, 2022. Entrants can request the winners' list by sending an email to Winners@dja.com with the specified subject line.

Requests for the winners' list of the Rite Aid 60th Anniversary Sweepstakes must be received by November 30, 2022. The list will be sent after all prizes have been awarded.

The United States government sued Rite Aid on March 14, 2023, for illegally filling hundreds of thousands of prescriptions for controlled substances, including opioids, from May 2014 to June 2019.

On August 25, 2023, Rite Aid announced its preparation to file for Chapter 11 bankruptcy protection to settle lawsuits over the opioid crisis.

Amid opioid lawsuits and legal battles, Rite Aid and its affiliated debtors filed for Chapter 11 bankruptcy protection in the United States District Court for the District of New Jersey. The company secured $3.5 billion in financing to stay afloat through bankruptcy.

Rite Aid announced the closure of 92 stores as part of the bankruptcy procedure. The company also warned investors about the possibility of permanently shuttering or selling all remaining stores.

Rite Aid warned investors that it might not survive the bankruptcy filing and could potentially have to close or sell all remaining stores within the next twelve months. The company also closed 154 stores on this day.

Walgreens agreed to pay $192.5 million to settle a lawsuit from Rite Aid investors who accused them of misleading about their bid to acquire Rite Aid in 2017.

Rite Aid sued the US Department of Justice to block an opioid lawsuit accusing the company of ignoring warnings and falsely filing prescriptions for addictive opioids.

A bankruptcy judge ordered Rite Aid to fully reorganize its operations by March 1, 2024, warning of potential liquidation if the deadline is not met.

Rite Aid entered bankruptcy mediation with opioid victims and creditors supervised by the court. The company also settled with the FTC over misuse of facial recognition technology.

Rite Aid cancelled an auction for its Elixir division and sold it to MedImpact Healthcare Systems for approximately $575 million.

Rite Aid finalizes the sale of its Elixir Solutions business to MedImpact Healthcare Systems, Inc.