In September of 2017, Rite Aid sold "1,932 Stores, three distribution centers, related inventory and other specified assets and liabilities related thereto for a purchase price of approximately $4.38 billion," to Walgreens ( WBA ) in a cash deal. Ever since this deal, RAD has been unable to be profitable, posting full-year losses for fiscal 2018 and fiscal 2019 (ending 2/28/19). I believe this could be due to their inability to achieve the same economies to scale that they previously were able to with a larger operation.