Rite Aid CEO Discusses Private Brand

This past Thursday East Pennsboro Township, Pennsylvania based drugstore Rite Aid reported its fourth quarter earnings and discussed the following the impact of Private Brands on their business.

Carla Casella – JPMorgan: Hi couple quick ones. On the private brand, how far do you think that can go in terms of adding more private brand to the store?

John T. Standley – President and CEO, Rite Aid: I think there is still a great opportunity for growth. I mean, our focus has been really getting ourselves rebranded, and really kind of stepping up our gain, which I think we have done a great job with, but we still have opportunity to continue to add items, and grow private brand sales for sure.

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Christopher Durham is the president of My Private Brand and the co-founder of The Vertex Awards. He is a strategist, author, consultant and retailer who built brands at Delhaize-owned Food Lion, and lead strategy and brand development for Lowe’s Home Improvement. He has consulted with retailers around the world on their private brand portfolios including: Family Dollar, Petco, Staples, Office Depot, Best Buy, Metro (Canada), TLW (Taiwan) and Hola (Taiwan). Durham has published five definitive books on private brands, including his first book, Fifty2: The My Private Brand Project. In 2017, he will debut his newest book, Vanguard: Vintage Originals, a visual tour of innovation and disruption in private brand going back to the mid-1800’s. Dynamic in his presentation while down to earth and frank in his opinions, he has presented at numerous conferences, including FUSE, The Dieline Conference, Packaging that Sells, Omnishopper and PLMA’a annual trade show in Chicago. Durham lives in Charlotte, NC with his wife, Laraine, and two daughters, Olivia and Sarah.