NEW YORK (TheStreet) -- Rite Aid Corp (RAD) and CVS Caremark (CVS) have pivoted to "wellness" -- out with the cigarettes, in with healthy living. Major U.S. drugstore chains are improving wellness offerings in significant ways. And Rite Aid and CVS in particular are looking to help the bottom line with the new policies.
Following Rite Aid's breakout year in 2013, profits have rolled in and the stock price has skyrocketed. As of 10 a.m. Wednesday, Rite Aid was at $7.10, up nearly 40% year to date and 151% over the past 52 weeks. First-quarter revenue increased 3% to $6.5 billion, up from $6.3 billion in the first quarter.
Expanding pharmacy and clinical services and the remodeling of Rite Aid's and CVS's wellness stores could provide the innovative wellness offerings that consumers seek. Will this help stockholders too?
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