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Document and Entity Information - shares
3 Months Ended
Jun. 03, 2023
Jul. 22, 2024
Cover [Abstract]    
Document Type 10-Q/A  
Document Quarterly Report true  
Document Period End Date Jun. 03, 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 Current Reporting Status No  
Entity Interactive Data Current Yes  
Entity Filer Category Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   55,974,015
Entity Central Index Key 0000084129  
Current Fiscal Year End Date --03-02  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q1  
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-Q/A (this "Amendment" or "Form 10-Q/A") to our Quarterly Report on Form 10-Q for the quarter ended June 3, 2023, which was filed with the Securities and Exchange Commission (the "SEC") on July 11, 2023 (the "Original Form 10-Q") 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 I, Item 4,"Controls and Procedures." This Amendment therefore amends our assessment of our disclosure controls and procedures to indicate that they were not effective as of June 3, 2023 because of this material weakness. In conjunction with filing this Amendment, we determined it was appropriate to revise the previously issued financial statements 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 16 Revision of Previously Issued Consolidated Financial Statements. The revised consolidated financial statements for the fiscal years ended March 4, 2023, February 26, 2022 and February 27, 2021 can be found in Item 8, "Financial Statements and Supplementary Data" of the Company's Annual Report on Form 10K/A, filed with the SEC on July 25, 2024 (the "Fiscal 2023 10-K/A"). The revised condensed consolidated financial statements for the quarterly periods ended June 3, 2023 and May 28, 2022 are provided in Item 1 of this 10-Q/A. The following Items of the Original Form 10-Q have been amended as set forth in this Form 10-Q/A: • Part I, Item 1. "Financial Statements" • Part I, Item 2. "Management's Discussion and Analysis of Financial Condition and Results" • Part I, Item 4. "Controls and Procedures" • Part II, Item 1A. "Risk Factors." In addition, Part II, Item 6 "Exhibits" also has been amended to include new 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 certifications are attached to this Amendment as Exhibits 31.1, 31.2, and 32. The other Items of the Original Form 10-Q have not been amended and, accordingly, have not been repeated in this Amendment. The only changes to the Original Form 10-Q 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-Q 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-Q was filed, and the Company has not undertaken herein to amend, update, or change any information contained in the Original Form 10-Q to give effect to any event following the date of filing of the Original Form 10-Q, other than as expressly indicated in this Amendment. Accordingly, this Amendment should be read in conjunction with the Original Form 10-Q and any subsequent filing with the SEC.