XML 11 R1.htm IDEA: XBRL DOCUMENT v3.24.2
Document and Entity Information - USD ($)
12 Months Ended
Mar. 04, 2023
Jul. 22, 2024
Aug. 27, 2022
Cover [Abstract]      
Document Type 10-K/A    
Document Annual Report true    
Document Period End Date Mar. 04, 2023    
Document Transition Report false    
Entity File Number 1-5742    
Entity Registrant Name RITE AID CORP    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 23-1614034    
Entity Address, Address Line One PO Box 3165    
Entity Address, City or Town Harrisburg    
Entity Address, State or Province PA    
Entity Address, Postal Zip Code 17105    
City Area Code 717    
Local Phone Number 761-2633    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status No    
Entity Interactive Data Current Yes    
Entity Filer Category Accelerated Filer    
ICFR Auditor Attestation Flag true    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Document Financial Statement Error Correction [Flag] false    
Entity Public Float     $ 447,694,555
Entity Common Stock, Shares Outstanding   55,974,015  
Auditor Name Deloitte & Touche LLP    
Auditor Firm ID 34    
Auditor Location Philadelphia, Pennsylvania    
Entity Central Index Key 0000084129    
Current Fiscal Year End Date --03-04    
Document Fiscal Year Focus 2023    
Document Fiscal Period Focus FY    
Amendment Flag true    
Amendment Description Rite Aid Corporation ("Rite Aid," the "Company," "we," "us," and "our") is filing this Amendment No. 1 on Form 10-K/A (this "Amendment" or "Form 10-K/A") to our Annual Report on Form 10-K for the fiscal year ended March 4, 2023, which was filed with the Securities and Exchange Commission (the "SEC") on May 1, 2023 (the "Original Form 10-K") to make certain changes, as described below. Subsequent to the issuance of the Company's consolidated financial statements as of and for the fiscal year ended March 4, 2023, management evaluated the materiality of a misstatement related to the Company's historical accounting for closed store liabilities in accordance with changes in ASC 420, Exit or Disposal Cost Obligations. Based on their evaluation, management concluded the misstatement is not material to the Company's previously issued consolidated financial statements as of and for each of the three fiscal years ended March 4, 2023 and each of the interim and year-to-date periods then ended, (collectively the "previously issued financial statements"). However, due to the discovery of this error, we reevaluated the effectiveness of our internal control over financial reporting ("ICFR") as of March 4, 2023 and identified a material weakness in our ICFR. For a more detailed description of this material weakness, refer to Part II, Item 9A,"Controls and Procedures." This Amendment therefore amends our assessment of our ICFR and our disclosure controls and procedures to indicate that they were not effective as of March 4, 2023 because of this material weakness. Our independent registered public accounting firm, Deloitte & Touche LLP, has also amended its opinion on our ICFR as of March 4, 2023. In conjunction with filing this Amendment, we determined it was appropriate to revise the consolidated financial statements as of and for each of the three fiscal years ended March 4, 2023 and the related notes thereto to reflect the impact of the immaterial misstatement in the periods impacted. For additional information and a more detailed discussion, refer to Note 25 Revision of Previously Issued Consolidated Financial Statements. Item 1A, "Risk Factors," of Part I of the Original Form 10-K, Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Continuing Operations;" Item 8, "Financial Statements and Supplementary Data," and Item 9A, "Controls and Procedures," of Part II of the Original Form 10-K are hereby deleted in their entireties and replaced with Item 1A, Item 7, Item 8, and Item 9A included herein, Item 15, "Exhibits and Financial Statement Schedule," of Part IV of the Original Form 10-K also has been amended to include a new consent of Deloitte & Touche LLP and, as required by Rule 12b-15 under the Securities Act of 1934, as amended, to provide new currently dated certifications by our Chief Executive Officer and Chief Financial Officer pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002. The new consent is attached to this Amendment as Exhibit 23 and the new certifications are attached to this Amendment as Exhibits 31.1, 31.2 and 32. The other Items of the Original Form 10-K have not been amended and, accordingly, have not been repeated in this Amendment. The only changes to the Original Form 10-K are related to the matters described above. Except as described above, this Amendment does not amend, update, or change any other item or disclosure in the Original Form 10-K and does not purport to reflect any information or event subsequent to the filing thereof. As such, this Amendment speaks only as of the date the Original Form 10-K was filed, and the Company has not undertaken herein to amend, update, or change any information contained in the Original Form 10-K to give effect to any event following the date of filing of the Original Form 10-K, other than as expressly indicated in this Amendment. Accordingly, this Amendment should be read in conjunction with the Original Form 10-K and any subsequent filing with the SEC.