Drugstore chain may sell stores

THE ASSOCIATED PRESS

Rite Aid Corp., the nation's third-largest drugstore chain, announced it is discussing a possible transaction.

Analysts said late Wednesday that Rite Aid might sell all or part of the 1,000 West Coast stores it acquired from Thrifty Payless Holdings Inc. in December 1996. Rite Aid's West Coast stores, which are larger than many of the company's other outlets, have underperformed over the last year.

Even though Rite Aid's shares have plunged 54 percent this year, analysts said they did not think the entire company would be acquired. Rite Aid, which is based in Camp Hill, Pa., has 3,880 stores in 30 states and owns PCS, a pharmacy benefit manager.

In North Las Vegas, a Rite Aid distribution center is being closed and its work moved to Southern California.

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