New Rite Aid (RADCQ) 10-Q 11 Jul 23 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 03, 2023	Jun. 28, 2023
Cover [Abstract]
Document Type	10-Q
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
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	RAD
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
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		56,696,332
Entity Central Index Key	0000084129
Current Fiscal Year End Date	--03-02
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 03, 2023	Mar. 04, 2023
Current assets:
Cash and cash equivalents	$ 135,527	$ 157,151
Accounts receivable, net	1,392,348	1,149,958
Inventories, net of LIFO reserve of $547,432 and $539,932	1,950,413	1,900,744
Prepaid expenses and other current assets	171,175	93,194
Total current assets	3,649,463	3,301,047
Property, plant and equipment, net	892,540	907,771
Operating lease right-of-use assets	2,457,110	2,497,206
Goodwill	356,436	507,936
Other intangibles, net	244,883	250,112
Deferred tax assets	12,368	12,368
Other assets	37,618	50,922
Total assets	7,650,418	7,527,362
Current liabilities:
Current maturities of long-term debt and lease financing obligations	6,060	6,332
Accounts payable	1,505,741	1,494,611
Accrued salaries, wages and other current liabilities	772,058	724,529
Current portion of operating lease liabilities	488,712	502,403
Total current liabilities	2,772,571	2,727,875
Long-term debt, less current maturities	3,327,970	2,925,258
Long-term operating lease liabilities	2,345,277	2,372,943
Lease financing obligations, less current maturities	12,151	12,580
Other noncurrent liabilities	139,897	130,482
Total liabilities	8,597,866	8,169,138
Commitments and contingencies
Stockholders' deficit:
Common stock, par value $1 per share; 75,000 shares authorized; shares issued and outstanding 56,708 and 56,629	56,708	56,629
Additional paid-in capital	5,918,931	5,917,964
Accumulated deficit	(6,908,235)	(6,601,517)
Accumulated other comprehensive loss	(14,852)	(14,852)
Total stockholders' deficit	(947,448)	(641,776)
Total liabilities and stockholders' deficit	$ 7,650,418	$ 7,527,362

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 03, 2023	Mar. 04, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS
Inventories, net of LIFO reserve	$ 547,432	$ 539,932
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	75,000	75,000
Common stock, shares issued	56,708	56,629
Common stock, shares outstanding	56,708	56,629

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Revenues	$ 5,653,162	$ 6,014,583
Costs and expenses:
Cost of revenues	4,474,636	4,817,854
Selling, general and administrative expenses	1,255,223	1,217,929
Facility exit and impairment charges	20,001	66,571
Goodwill and intangible asset impairment charges	151,500
Interest expense	65,220	48,119
Gain on sale of assets, net	(8,193)	(29,196)
Total costs and expenses	5,958,387	6,121,277
Loss before income taxes	(305,225)	(106,694)
Income tax expense	1,493	3,497
Net loss	(306,718)	(110,191)
Computation of loss attributable to common stockholders:
Net loss attributable to common stockholders - basic	(306,718)	(110,191)
Net loss attributable to common stockholders - diluted	$ (306,718)	$ (110,191)
Basic loss per share:
Basic loss per share	$ (5.56)	$ (2.03)
Diluted loss per share:
Diluted loss per share	$ (5.56)	$ (2.03)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Net loss	$ (306,718)	$ (110,191)
Defined benefit pension plans:
Amortization of net actuarial losses included in net periodic pension cost, net of $0 and $0 income tax expense
Change in fair value of interest rate cap
Total other comprehensive income
Comprehensive loss	$ (306,718)	$ (110,191)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Amortization of net actuarial losses included in net periodic pension cost, net of income tax expense	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Total
BALANCE - beginning of period at Feb. 26, 2022	$ 55,752	$ 5,910,299	$ (5,851,581)	$ (15,437)	$ 99,033
BALANCE (in shares) at Feb. 26, 2022	55,752
Increase (Decrease) in Stockholders' Deficit
Net loss			(110,191)		(110,191)
Comprehensive loss					(110,191)
Issuance of restricted stock	$ 61	(61)
Issuance of restricted stock (in shares)	61
Exchange of restricted shares for taxes	$ (63)	(490)			(553)
Exchange of restricted shares for taxes (in shares)	(63)
Cancellation of restricted stock	$ (127)	127
Cancellation of restricted stock (in shares)	(127)
Amortization of restricted stock balance		3,324			3,324
Stock-based compensation expense		201			201
Amortization of performance-based incentive plans		(190)			(190)
BALANCE - end of period at May. 28, 2022	$ 55,623	5,913,210	(5,961,772)	(15,437)	(8,376)
BALANCE (in shares) at May. 28, 2022	55,623
BALANCE - beginning of period at Mar. 04, 2023	$ 56,629	5,917,964	(6,601,517)	(14,852)	(641,776)
BALANCE (in shares) at Mar. 04, 2023	56,629
Increase (Decrease) in Stockholders' Deficit
Net loss			(306,718)		(306,718)
Comprehensive loss					(306,718)
Issuance of restricted stock	$ 256	(256)
Issuance of restricted stock (in shares)	256
Shares issued under the performance-based incentive plans	$ 44	(44)
Shares issued under the performance-based incentive plans (in shares)	44
Exchange of restricted shares for taxes	$ (18)	(28)			(46)
Exchange of restricted shares for taxes (in shares)	(18)
Cancellation of restricted stock	$ (203)	203
Cancellation of restricted stock (in shares)	(203)
Amortization of restricted stock balance		1,201			1,201
Amortization of performance-based incentive plans		(109)			(109)
BALANCE - end of period at Jun. 03, 2023	$ 56,708	$ 5,918,931	$ (6,908,235)	$ (14,852)	$ (947,448)
BALANCE (in shares) at Jun. 03, 2023	56,708

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Operating activities:
Net loss	$ (306,718)	$ (110,191)
Adjustments to reconcile to net cash used in operating activities:
Depreciation and amortization	65,895	70,073
Facility exit and impairment charges	20,001	66,571
Goodwill and intangible asset impairment charges	151,500
LIFO charge	7,500
Gain on sale of assets, net	(8,193)	(29,196)
Change in allowances for uncollectible accounts receivable	4,004	3,763
Stock-based compensation expense	1,081	3,334
Changes in operating assets and liabilities:
Accounts receivable	(246,838)	(104,458)
Inventories	(57,169)	(15,827)
Accounts payable	20,558	(137,572)
Operating lease right-of-use assets and operating lease liabilities	(10,857)	(14,812)
Other assets	(64,687)	751
Other liabilities	51,385	15,327
Net cash used in operating activities	(372,538)	(252,237)
Investing activities:
Payments for property, plant and equipment	(35,891)	(73,176)
Intangible assets acquired	(11,612)	(12,248)
Proceeds from dispositions of assets and investments	8,157	30,839
Net cash used in investing activities	(39,346)	(54,585)
Financing activities:
Net proceeds from revolver	400,000	291,000
Principal payments on long-term debt	(1,009)	(977)
Change in zero balance cash accounts	(8,272)	33,691
Financing fees paid for early debt redemption	(51)
Payments for taxes related to net share settlement of equity awards	(46)	(553)
Deferred financing costs paid	(362)
Net cash provided by financing activities	390,260	323,161
(Decrease) increase in cash and cash equivalents	(21,624)	16,339
Cash and cash equivalents, beginning of period	157,151	39,721
Cash and cash equivalents, end of period	$ 135,527	$ 56,060

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Jun. 03, 2023
Basis of Presentation and Significant Accounting Policies
Basis of Presentation and Significant Accounting Policies	1. Basis of Presentation and Significant Accounting Policies ​ The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete annual financial statements. The accompanying financial information reflects all adjustments which are of a recurring nature and, in the opinion of management, are necessary for a fair presentation of the results for the interim periods. The results of operations for the thirteen week period ended June 3, 2023 are not necessarily indicative of the results to be expected for the full year. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Rite Aid Corporation (“Rite Aid”) and Subsidiaries (together with Rite Aid, the “Company”) Fiscal 2023 10-K. ​ Revenue Recognition ​ The following table disaggregates the Company’s revenue by major source in each segment for the thirteen week periods ended June 3, 2023 and May 28, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, May 28, ​ 2023 ​ 2022 ​ In thousands (13 weeks) (13 weeks) Retail Pharmacy Segment: ​ ​ Pharmacy sales $ 3,296,974 ​ $ 3,053,449 ​ Front-end sales 1,167,345 ​ 1,261,206 ​ Other revenue 28,010 ​ 30,701 ​ Total Retail Pharmacy Segment ​ 4,492,329 ​ ​ 4,345,356 ​ Pharmacy Services Segment 1,196,154 ​ 1,725,857 ​ Intersegment elimination (35,321) ​ (56,630) ​ Total revenue $ 5,653,162 ​ $ 6,014,583 ​ ​ The Retail Pharmacy Segment offered a chain-wide loyalty card program titled wellness+. Individual customers were able to become members of the wellness+ program. Members participating in the wellness+ loyalty card program earned points on a calendar year basis for eligible front-end merchandise purchases and qualifying prescription purchases. The wellness+ program was terminated as of July 1, 2020, with benefits earned as of that date available to be used through the end of calendar 2020. Beginning in December 2020, the Company granted temporary extensions of benefits to certain previous members that were eligible for a discount as of the end of each previous 6 month period such that those prior members were eligible to continue to receive that discount on purchases made through the subsequent 6 months with no additional purchase requirement. New and existing customers who were not already eligible for program benefits also had the opportunity to earn additional discounts on purchases made through each 6 month period. A final extension was granted on December 31, 2021 through February 26, 2022 at which point all discounts were terminated. ​ A new loyalty program, Rite Aid Rewards, was initiated on February 27, 2022. Customers that enroll in the new program earn points for each dollar spent on front of store purchases as well as for eligible pharmacy prescriptions. Points can then be converted into a “Rite Aid Rewards” coupon that can be tendered as payment in a future purchase. Each point is worth $0.002. Customers must accumulate 1,000 points and create an online account in order to convert earned points to a “Rite Aid Rewards” coupon. Unused/unconverted points expire after 90 days. Unredeemed “Rite Aid Rewards” coupons expire 30 days after conversion from points earned. ​ Points earned pursuant to the Rite Aid Rewards program represent a performance obligation. The value of unredeemed Rite Aid Rewards points is deferred as a contract liability (included in other current liabilities). As members redeem points in the form of a Rite Aid Rewards coupon or when points or unredeemed Rite Aid Rewards coupons expire, the Retail Pharmacy Segment recognizes the redeemed/expired portion of the deferred contract liability into revenue. For the thirteen week period ended June 3, 2023, the Company recognized $177 of deferred contract liability into revenue. The Retail Pharmacy Segment had accrued contract liabilities of $1,853 and $2,030 as of June 3, 2023 and March 4, 2023, respectively. ​ Recently Adopted Accounting Pronouncements ​ In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Restructuring

Restructuring	3 Months Ended
	Jun. 03, 2023
Restructuring
Restructuring	2. Restructuring ​ Beginning in fiscal 2019, the Company initiated a series of restructuring plans designed to reorganize its executive management team, reduce managerial layers, and consolidate roles. In March 2020, the Company announced the details of its strategy, which includes building tools to work with regional health plans to improve patient health outcomes, rationalizing SKU’s in its front-end offering to free up working capital and update its merchandise assortment, assessing its pricing and promotional strategy, rebranding its retail pharmacy and pharmacy services business, launching its Store of the Future format and further reducing SG&A and headcount, including integrating certain back office functions in the Pharmacy Services Segment both within the segment and across the enterprise. Other strategic initiatives include the expansion of the Company’s digital business, replacing and updating the Company’s financial systems to improve efficiency, and movement to a common client platform at Elixir. In April 2022, the Company announced further strategic initiatives to reduce costs through the closure of unprofitable stores, reduce corporate administration expenses, improve efficiencies in worked payroll and other store labor costs, engage in a comprehensive review of purchasing and other business processes in both the Retail Pharmacy and Pharmacy Services Segments in order to identify areas of opportunity, as well as expense reductions at the Pharmacy Services Segment. In December 2022, the Company announced a new multi-year performance acceleration program, which allows it to fast-track initiatives that will improve sales, script volume and operating margins, and free up cash. The Company is partnering with a leading consulting firm that has worked with several Fortune 150 firms to execute the turnaround model. This program has given the Company visibility into the profitability opportunities it can drive over the next three years by focusing on improvements and growth in its core businesses. These and future restructuring activities, including those designed to enhance the Company’s liquidity and capital structure, are expected to provide future growth opportunities, expense efficiency benefits, and potentially reduce its leverage. The Company has engaged in and, at any given time, may further engage in strategic alternatives to recapitalize, refinance or otherwise optimize its capital structure. Any such review or contingency planning could ultimately result in the Company’s pursuing one or more significant corporate transactions or other remedial measures. There can be no assurance as to when or whether the Company will determine to implement any such action, whether such actions will be successful, or the effects the failure to take action may have on its business, including the Company’s ability to achieve its operational, strategic, and financial goals. Additionally, there can be no assurance that the Company’s current and future restructuring charges will achieve the cost savings and remerchandising benefits in the amounts or time anticipated. ​ For the thirteen week period ended June 3, 2023, the Company incurred total restructuring-related costs of $78,130, which are included as a component of SG&A. These costs are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ Pharmacy ​ ​ ​ ​ Segment Services Segment Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restructuring-related costs ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance and related costs associated with ongoing reorganization efforts (a) $ 440 $ — $ 440 Professional and other fees relating to restructuring activities (b) ​ 76,029 ​ 1,661 ​ 77,690 Total restructuring-related costs $ 76,469 $ 1,661 $ 78,130 ​ For the thirteen week period ended May 28, 2022, the Company incurred total restructuring-related costs of $22,646, which are included as a component of SG&A. These costs are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ Pharmacy ​ ​ ​ ​ Segment Services Segment Total ​ ​ ​ ​ ​ ​ ​ ​ ​ Restructuring-related costs ​ ​ ​ ​ ​ ​ ​ ​ Severance and related costs associated with ongoing reorganization efforts (a) $ 11,288 $ 616 $ 11,904 Professional and other fees relating to restructuring activities (b) 6,083 ​ 4,659 ​ 10,742 Total restructuring-related costs $ 17,371 $ 5,275 $ 22,646 ​ A summary of activity for the thirteen week period ended June 3, 2023 in the restructuring-related liabilities associated with the programs noted above, which is included in accrued salaries, wages and other current liabilities, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance and related ​ Professional and ​ ​ ​ ​ costs (a) other fees (b) Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of March 4, 2023 $ 7,658 $ 42,154 $ 49,812 Additions charged to expense ​ ​ 440 ​ ​ 77,690 ​ ​ 78,130 Cash payments ​ ​ (2,738) ​ ​ (33,962) ​ ​ (36,700) Balance as of June 3, 2023 $ 5,360 $ 85,882 $ 91,242 (a) – Severance and related costs reflect severance accruals, executive search fees, outplacement services and other similar charges associated with ongoing reorganization efforts. (b) – Professional and other fees include costs incurred in connection with the identification and implementation of initiatives associated with restructuring activities. ​ The Company anticipates incurring approximately $155,000 during fiscal 2024 in connection with its continued restructuring activities.

Loss Per Share

Loss Per Share	3 Months Ended
	Jun. 03, 2023
Loss Per Share
Loss Per Share	3. Loss Per Share ​ Basic loss per share is computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the income of the Company, subject to anti-dilution limitations. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ ​ ​ June 3, ​ May 28, ​ ​ 2023 2022 ​ Basic and diluted loss per share: ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ Net loss attributable to common stockholders — basic and diluted ​ $ (306,718) ​ $ (110,191) ​ Denominator: ​ ​ ​ ​ ​ ​ ​ Basic and diluted weighted average shares ​ 55,179 ​ 54,348 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted loss per share ​ $ (5.56) ​ $ (2.03) ​ ​ Due to their antidilutive effect, 29 and 700 potential shares related to stock options have been excluded from the computation of diluted loss per share for the thirteen week periods ended June 3, 2023 and May 28, 2022, respectively. Also, excluded from the computation of diluted loss per share for the thirteen week periods ended June 3, 2023 and May 28, 2022 are restricted shares of 1,510 and 1,247, respectively, which are included in shares outstanding.

Facility Exit and Impairment Ch

Facility Exit and Impairment Charges	3 Months Ended
	Jun. 03, 2023
Facility Exit and Impairment Charges
Facility Exit and Impairment Charges	4. Facility Exit and Impairment Charges ​ Facility exit and impairment charges consist of amounts as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period ​ Ended ​ ​ June 3, May 28, ​ 2023 2022 Impairment charges ​ $ 11,738 $ 35,036 Facility exit charges ​ 8,263 ​ 31,535 ​ ​ $ 20,001 $ 66,571 ​ Impairment Charges ​ These amounts include the write-down of long-lived assets at locations that were assessed for impairment because of management’s intention to relocate or close the location or because of changes in circumstances that indicated the carrying value of an asset may not be recoverable. ​ The Company utilizes the three-level valuation hierarchy for the recognition and disclosure of fair value measurements. The categorization of assets and liabilities within this hierarchy is based upon the lowest level of input that is significant to the measurement of fair value. The three levels of the hierarchy consist of the following: ​ ● Level 1—Inputs to the valuation methodology are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. ​ ● Level 2—Inputs to the valuation methodology are quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active or inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the instrument. ​ ● Level 3—Inputs to the valuation methodology are unobservable inputs based upon management’s best estimate of inputs market participants could use in pricing the asset or liability at the measurement date, including assumptions about risk. ​ Non-Financial Assets Measured on a Non-Recurring Basis ​ Long-lived non-financial assets are measured at fair value on a nonrecurring basis for purposes of calculating impairment using Level 2 and Level 3 inputs as defined in the fair value hierarchy. The fair value of long-lived assets using Level 2 inputs is determined by evaluating the current economic conditions in the geographic area for similar use assets. The fair value of long-lived assets using Level 3 inputs is determined by estimating the amount and timing of net future cash flows (which are unobservable inputs) and discounting them using a risk-adjusted rate of interest (which is Level 1). The Company estimates future cash flows based on its experience and knowledge of the market in which the store is located. Significant increases or decreases in actual cash flows may result in valuation changes. During the thirteen week period ended June 3, 2023, long-lived assets with a carrying value of $11,738, primarily right-of-use assets in connection with stores or leased office spaces, were written down to their fair value of $0, resulting in an impairment charge of $11,738. During the thirteen week period ended May 28, 2022, long-lived assets with a carrying value of $39,228, primarily right-of-use assets in connection with leased office spaces, were written down to their fair value of $4,192, resulting in an impairment charge of $35,036. If our actual future cash flows differ from our projections materially, certain stores that are either not impaired or partially impaired in the current period may be further impaired in future periods. ​ The following table presents fair values for those assets measured at fair value on a non-recurring basis at June 3, 2023 and May 28, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Values ​ Total ​ ​ ​ ​ ​ ​ ​ ​ as of ​ Charges ​ Level 1 Level 2 Level 3 Impairment Date June 3, 2023 Long-lived assets held for use ​ $ — ​ $ — ​ $ — ​ $ — ​ $ (11,738) Long-lived assets held for sale ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Total ​ $ — ​ $ — ​ $ — ​ $ — ​ $ (11,738) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Values ​ Total ​ ​ ​ ​ ​ ​ ​ ​ as of ​ Charges ​ Level 1 Level 2 Level 3 Impairment Date May 28, 2022 Long-lived assets held for use ​ $ — ​ $ 4,192 ​ $ — ​ $ 4,192 ​ $ (35,036) Long-lived assets held for sale ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Total ​ $ — ​ $ 4,192 ​ $ — ​ $ 4,192 ​ $ (35,036) ​ Facility Exit Charges ​ As part of the Company's ongoing business activities, the Company assesses stores and distribution centers for potential closure or relocation. Decisions to close or relocate stores or distribution centers in future periods would result in facility exit charges and inventory liquidation charges, as well as impairment of assets at these locations. When a store or distribution center is closed, the Company records an expense for unrecoverable costs and accrues a liability equal to the present value at current credit adjusted risk-free interest rates of any anticipated executory costs which are not included within the store or distribution center's respective lease liability under Topic 842. Other store or distribution center closing and liquidation costs are expensed when incurred. ​ The following table reflects changes in the Company’s closed store liability relating to closed store and distribution center charges for new closures, changes in assumptions and interest accretion: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period ​ ​ ​ Ended ​ ​ ​ June 3, ​ May 28, ​ ​ 2023 2022 Balance—beginning of period ​ $ 49,772 ​ $ 18,688 ​ Provision for present value of executory costs for leases exited ​ 5,598 ​ 26,499 ​ Changes in assumptions and other adjustments ​ ​ (2,090) ​ ​ (191) ​ Interest accretion ​ 534 ​ 98 ​ Cash payments ​ (4,041) ​ (1,692) ​ Balance—end of period ​ $ 49,773 ​ $ 43,402 ​ ​

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jun. 03, 2023
Fair Value Measurements
Fair Value Measurements	5. Fair Value Measurements ​ The Company utilizes the three-level valuation hierarchy as described in Note 4, Facility Exit and Impairment Charges, ​ Financial instruments other than long-term indebtedness include cash and cash equivalents, accounts receivable and accounts payable. These instruments are recorded at book value, which we believe approximate their fair values due to their short term nature. In addition, as of June 3, 2023 and March 4, 2023, the Company has $4,640 and $7,457, respectively, of investments carried at amortized cost as these investments are being held to maturity, which are included as a component of prepaid expenses and other current assets. The Company believes the carrying value of these investments approximates their fair value. ​ The fair value for Secured Overnight Financing Rate (“SOFR”) based borrowings under the Company’s senior secured credit facility is estimated based on the quoted market price of the financial instrument which is considered Level 1 of the fair value hierarchy. The fair values of substantially all of the Company’s other long-term indebtedness are estimated based on quoted market prices of the financial instruments which are considered Level 1 of the fair value hierarchy. The carrying amount and estimated fair value of the Company’s total long-term indebtedness was $3,327,970 and $2,676,269, respectively, as of June 3, 2023. The carrying amount and estimated fair value of the Company's total long-term indebtedness was $2,925,258 and $2,368,328, respectively, as of March 4, 2023.

Income Taxes

Income Taxes	3 Months Ended
	Jun. 03, 2023
Income Taxes
Income Taxes	6. Income Taxes ​ The Company recorded an income tax expense of $1,493 and $3,497 for the thirteen week periods ended June 3, 2023 and May 28, 2022, respectively. The effective tax rate for the thirteen week periods ended June 3, 2023 and May 28, 2022 was (0.5)% and (3.3)%, respectively. The effective tax rate for the thirteen week periods ended June 3, 2023 May 28, 2022 was net of an adjustment of (27.6)% and (37.6)%, respectively, to adjust the valuation allowance against deferred tax assets. ​ The Company recognizes tax liabilities in accordance with the guidance for uncertain tax positions and management adjusts these liabilities with changes in judgment as a result of the evaluation of new information not previously available. Due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the current estimate of the tax liabilities. ​ The Company believes that it is reasonably possible that a decrease of up to $4,001 in unrecognized tax benefits related to state exposures may be necessary in the next twelve months; however, management does not expect the change to have a material impact on the results of operations or the financial position of the Company. ​ The Company regularly evaluates valuation allowances established for deferred tax assets for which future realization is uncertain. Management will continue to monitor all available evidence related to the net deferred tax assets that may change the most recent assessment, including events that have occurred or are anticipated to occur. The Company continues to maintain a valuation allowance against net deferred tax assets of $1,733,294 and $1,649,193, which relates to federal and state deferred tax assets that may not be realized based on the Company's future projections of taxable income at June 3, 2023 and March 4, 2023, respectively.

Medicare Part D

Medicare Part D	3 Months Ended
	Jun. 03, 2023
Medicare Part D
Medicare Part D	7. Medicare Part D ​ The Company offers Medicare Part D benefits through Elixir Insurance (“EI”), which has contracted with CMS to be a Prescription Drug Plan (“PDP”) and, pursuant to the Medicare Prescription Drug, Improvement and Modernization Act of 2003, must be a risk-bearing entity regulated under state insurance laws or similar statutes. ​ EI is a licensed domestic insurance company under the applicable laws and regulations. Pursuant to these laws and regulations, EI must file quarterly and annual reports with the National Association of Insurance Commissioners (“NAIC”) and certain state regulators, must maintain certain minimum amounts of capital and surplus under formulas established by certain states and must, in certain circumstances, request and receive the approval of certain state regulators before making dividend payments or other capital distributions to the Company. The Company does not believe these limitations on dividends and distributions materially impact its financial position. EI is subject to minimum capital and surplus requirements in certain states. The minimum amount of capital and surplus required to satisfy regulatory requirements in these states is $5,249 as of March 31, 2023. EI was in excess of the minimum required amounts in these states as of June 3, 2023. ​ The Company has recorded estimates of various assets and liabilities arising from its participation in the Medicare Part D program based on information in its claims management and enrollment systems. Significant estimates arising from its participation in this program include: (i) estimates of low-income cost subsidies, reinsurance amounts, and coverage gap discount amounts ultimately payable to CMS based on a detailed claims reconciliation that will occur in the following year; (ii) an estimate of amounts receivable from CMS under a risk-sharing feature of the Medicare Part D program design, referred to as the risk corridor and; (iii) estimates for claims that have been reported and are in the process of being paid or contested and for our estimate of claims that have been incurred but have not yet been reported. On August 12, 2021, the Company entered into a receivable purchase agreement (the “August 2021 Receivable Purchase Agreement”) with Bank of America, N.A. (the “Purchaser”). ​ Pursuant to the terms and conditions set forth in the August 2021 Receivable Purchase Agreement, the Company sold $271,829, a portion of its calendar 2021 CMS receivable, for $258,116, of which $239,360 was received on August 12, 2021 and the remainder was received in fiscal 2023 upon final remittance from CMS. In connection therewith, the Company recognized a loss of $13,713, which is included as a component of loss (gain) on sale of assets, net during the thirteen week period ended August 28, 2021. On August 12, 2021, concurrent with the August 2021 Receivable Purchase Agreement, the Company entered into an indemnity agreement (the “August 2021 Indemnity Agreement”), whereby the Company has agreed to indemnify, reimburse and hold Purchaser harmless from certain liabilities and expenses actually suffered or incurred by the Purchaser resulting from the occurrence of certain events as specified in the August 2021 Indemnity Agreement. Based on its evaluation of the August 2021 Indemnity Agreement, the Company has determined that it is highly unlikely that the events covered under the August 2021 Indemnity Agreement would occur, and consequently, the Company has not recorded any indemnification liability associated with the August 2021 Indemnity Agreement. On January 24, 2022, the Company entered into a receivable purchase agreement (the “January 2022 Receivable Purchase Agreement”) with Purchaser. Pursuant to the terms and conditions set forth in the January 2022 Receivable Purchase Agreement, the Company sold $400,680, a portion of its calendar 2021 CMS receivable, for $387,035, of which $359,388 was received on January 24, 2022 and the remainder was received in fiscal 2023 upon final remittance from CMS. In connection therewith, the Company recognized a loss of $13,645, which is included as a component of loss (gain) on sale of assets, net during the thirteen week period ended February 26, 2022. On January 24, 2022, concurrent with the January 2022 Receivable Purchase Agreement, the Company entered into an indemnity agreement (the “January 2022 Indemnity Agreement”), whereby the Company has agreed to indemnify, reimburse and hold Purchaser harmless from certain liabilities and expenses actually suffered or incurred by the Purchaser resulting from the occurrence of certain events as specified in the January 2022 Indemnity Agreement. Based on its evaluation of the January 2022 Indemnity Agreement, the Company has determined that it is highly unlikely that the events covered under the January 2022 Indemnity Agreement would occur, and consequently, the Company has not recorded any indemnification liability associated with the January 2022 Indemnity Agreement. On October 13, 2022, the Company entered into a receivable purchase agreement (the “October 2022 Receivable Purchase Agreement”) with Purchaser. Pursuant to the terms and conditions set forth in the October 2022 Receivable Purchase Agreement, the Company sold $195,487, a portion of its calendar 2022 CMS receivable, for $180,405, of which $166,917 was received on October 13, 2022. The remaining $13,488, which is included in accounts receivable, net as of June 3, 2023, is payable to the Company, subject to final CMS claim reconciliation adjustments, upon receipt of the final remittance from CMS. In connection therewith, the Company recognized a loss of $15,082, which was included as a component of (gain) loss on sale of assets, net during the thirteen-week period ended November 26, 2022. On October 13, 2022, concurrent with the October 2022 Receivable Purchase Agreement, the Company entered into an indemnity agreement (the “October 2022 Indemnity Agreement”), whereby the Company has agreed to indemnify, reimburse, and hold Purchaser harmless from certain liabilities and expenses actually suffered or incurred by the Purchaser resulting from the occurrence of certain events as specified in the October 2022 Indemnity Agreement. Based on its evaluation of the October 2022 Indemnity Agreement, the Company has determined that it is highly unlikely that the events covered under the October 2022 Indemnity Agreement would occur, and consequently, the Company has not recorded any indemnification liability associated with the October 2022 Indemnity Agreement. During the thirteen-week period ended November 26, 2022, the Company incurred additional fees of $1,937, which were included as a component of (gain) loss on sale of assets, net related to the sale of the 2021 CMS receivable to Bank of America. The additional fees were incurred due to a CMS delay in settling the 2021 receivable. On February 3, 2023, the Company entered into a receivable purchase agreement (the “February 2023 Receivable Purchase Agreement”) with Purchaser. Pursuant to the terms and conditions set forth in the February 2023 Receivable Purchase Agreement, the Company sold $278,390, a portion of its calendar 2022 CMS receivable, for $261,771, of which $242,562 was received on February 3, 2023. The remaining $19,209, which is included in accounts receivable, net as of June 3, 2023, is payable to the Company, subject to final CMS claim reconciliation adjustments, upon receipt of the final remittance from CMS. In connection therewith, the Company recognized a loss of $16,619, which is included as a component of (gain) loss on sale of assets, net during the fourteen-week period ended March 4, 2023. On February 3, 2023, concurrent with the February 2023 Receivable Purchase Agreement, the Company entered into an indemnity agreement (the “February 2023 Indemnity Agreement”), whereby the Company has agreed to indemnify, reimburse and hold Purchaser harmless from certain liabilities and expenses actually suffered or incurred by the Purchaser resulting from the occurrence of certain events as specified in the February 2023 Indemnity Agreement. Based on its evaluation of the February 2023 Indemnity Agreement, the Company has determined that it is highly unlikely that the events covered under the February 2023 Indemnity Agreement would occur, and consequently, the Company has not recorded any indemnification liability associated with the February 2023 Indemnity Agreement. During the fourteen-week period ended March 4, 2023, the company incurred additional fees of $2,573, which are included as a component of (gain) loss on sale of assets, net related to the sale of the 2021 CMS receivable to Bank of America. The additional fees were incurred due to a CMS delay in settling the 2021 receivable. As of June 3, 2023 and March 4, 2023 accounts receivable, net included $32,697 due from the Purchaser, subject to final CMS claim reconciliation adjustments, upon receipt of the final remittance for the respective calendar years from CMS. ​ As of June 3, 2023, and March 4, 2023, accounts receivable, net included $136,070 and $45,201 due from CMS. ​ The Inflation Reduction Act of 2022 contains several provisions affecting Medicare, which will take effect over various periods of time from 2023 to 2029. Based on the Company’s current analysis of the provisions, it does not believe that this legislation will have a material impact on the financial statements. ​ On June 4, 2023, the Company decided to exit the Medicare Part D Individual Insurance market, effective January 1, 2024. As of June 3, 2023, Elixir Insurance operated in eleven markets, with approximately 274,000 Medicare Part D Individual members. The Company expects to service its exiting members in the 2023 plan year through December 31, 2023. ​

Manufacturer Rebates Receivable

Manufacturer Rebates Receivables	3 Months Ended
	Jun. 03, 2023
Manufacturer Rebates Receivables
Manufacturer Rebates Receivables	8. Manufacturer Rebates Receivables ​ The Pharmacy Services Segment has manufacturer rebates receivables due directly from manufacturers and from our rebate aggregator of $417,746 and $357,699 included in accounts receivable, net of an allowance for uncollectible rebates of $11,025 and $8,680, as of June 3, 2023 and March 4, 2023, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Jun. 03, 2023
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	9. Goodwill and Other Intangible Assets ​ Goodwill and indefinite-lived assets, such as certain trademarks acquired in connection with acquisition transactions, are not amortized, but are instead evaluated for impairment on an annual basis at the end of the fiscal year, or more frequently if events or circumstances indicate it may be more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill, the Company performs a quantitative goodwill impairment test. The fair value estimates used in the quantitative impairment test are calculated using an average of the income and market approaches. The income approach is based on the present value of future cash flows of each reporting unit, while the market approach is based on certain multiples of selected guideline public companies or selected guideline transactions. The approaches, which qualify as Level 3 within the fair value hierarchy, incorporate a number of market participant assumptions including future growth rates, discount rates, income tax rates and market activity in assessing fair value and are reporting unit specific. If the carrying amount exceeds the reporting unit’s fair value, the Company recognizes an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. In addition, the Company considers the income tax effect of any tax deductible goodwill when measuring a goodwill impairment loss. During the thirteen week period ended June 3, 2023, the Company completed a qualitative goodwill impairment assessment, at which time it was determined after evaluating results, events, and circumstances that were not known in prior quarters that a quantitative assessment was necessary for the Pharmacy Services Segment. The quantitative assessment concluded that the carrying amount of the Pharmacy Services Segment exceeded its fair value principally due to projected performance at EI. Unfavorable drug costs and utilization trends that became apparent during the thirteen week period ended June 3, 2023, resulted in an unfavorable MLR which also increased the projected working capital needs of the business and subsequently contributed to the decision to exit the Individual Part D market, effective January 1, 2024. This resulted in goodwill impairment charges of $151,500 for the thirteen week period ended June 3, 2023. The goodwill related to the Pharmacy Services Segment is at risk of future impairment if the fair value of this segment, and its associated assets, decrease in value due to further declines in its operating results or an inability to execute management’s business strategies. Future cash flow estimates are, by their nature, subjective, and actual results may differ materially from the Company's estimates. If the Company's ongoing cash flow projections are not met or if market factors utilized in the impairment test deteriorate, including an unfavorable change in the terminal growth rate or the weighted-average cost of capital, the Company may have to record impairment charges in future periods. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ ​ ​ ​ Pharmacy ​ Services ​ Total Balance, March 4, 2023 ​ ​ 43,492 ​ ​ 464,444 ​ ​ 507,936 Goodwill impairment ​ ​ — ​ ​ (151,500) ​ ​ (151,500) Balance, June 3, 2023 ​ $ 43,492 ​ $ 312,944 ​ $ 356,436 ​ ​ The Company’s intangible assets are primarily finite-lived and amortized over their useful lives. Following is a summary of the Company’s finite-lived and indefinite-lived intangible assets as of June 3, 2023 and March 4, 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, 2023 ​ March 4, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Average ​ Gross ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Amortization ​ Carrying ​ Accumulated ​ ​ ​ ​ Amortization ​ Amount Amortization Net Period Amount Amortization Net Period Non-compete agreements and other (a) ​ $ 205,249 ​ $ (184,911) ​ $ 20,338 ​ 3 years ​ $ 201,919 ​ $ (182,957) ​ $ 18,962 ​ 3 years Prescription files ​ 1,035,505 ​ ​ (934,114) ​ ​ 101,391 5 years ​ 1,029,665 ​ ​ (928,478) ​ ​ 101,187 5 years Customer relationships (a) ​ ​ 388,000 ​ ​ (310,842) ​ ​ 77,158 ​ 8 years ​ ​ 388,000 ​ ​ (306,139) ​ ​ 81,861 ​ 9 years CMS license ​ ​ 57,500 ​ ​ (25,904) ​ ​ 31,596 ​ 3 years ​ ​ 57,500 ​ ​ (23,798) ​ ​ 33,702 ​ 4 years Claims adjudication and other developed software ​ ​ 58,985 ​ ​ (58,985) ​ ​ — ​ 0 years ​ ​ 58,985 ​ ​ (58,985) ​ ​ — ​ 0 years Total finite ​ $ 1,745,239 ​ $ (1,514,756) ​ ​ 230,483 ​ ​ ​ ​ $ 1,736,069 ​ $ (1,500,357) ​ $ 235,712 ​ ​ ​ Trademarks ​ ​ 14,400 ​ ​ — ​ ​ 14,400 ​ Indefinite ​ ​ ​ 14,400 ​ ​ — ​ ​ 14,400 ​ Indefinite ​ Total ​ $ 1,759,639 ​ $ (1,514,756) ​ $ 244,883 ​ ​ ​ ​ $ 1,750,469 ​ $ (1,500,357) ​ $ 250,112 ​ ​ ​ (a) Amortized on an accelerated basis which is determined based on the remaining useful economic lives of the customer relationships that are expected to contribute directly or indirectly to future cash flows. ​ Amortization expense for these intangible assets and liabilities was $17,133 and $20,626 for the thirteen week periods ended June 3, 2023 and May 28, 2022, respectively. The anticipated annual amortization expense for these intangible assets and liabilities is 2024—$63,486; 2025—$52,554; 2026—$42,028; 2027—$35,018 and 2028—$27,538.

Indebtedness and Credit Agreeme

Indebtedness and Credit Agreement	3 Months Ended
	Jun. 03, 2023
Indebtedness and Credit Agreement
Indebtedness and Credit Agreement	10. Indebtedness and Credit Agreement ​ Following is a summary of indebtedness and lease financing obligations as of June 3, 2023 and March 4, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, ​ March 4, ​ 2023 2023 Secured Debt: ​ ​ ​ ​ ​ ​ Senior secured revolving credit facility due August 2026 ($1,600,000 and $1,200,000 face value less unamortized debt issuance costs of $14,626 and $16,117) ​ ​ 1,585,374 ​ ​ 1,183,883 FILO Term Loan due August 2026 ($400,000 face value less unamortized debt issuance costs of $1,936 and $2,090) ​ ​ 398,064 ​ ​ 397,910 ​ ​ 1,983,438 ​ 1,581,793 Second Lien Secured Debt: ​ ​ ​ ​ ​ ​ 7.500% senior secured notes due July 2025 ($320,002 face value less unamortized debt issuance costs of $2,257 and $2,529) ​ 317,745 ​ 317,473 8.000% senior secured notes due November 2026 ($849,918 face value less unamortized debt issuance costs of $10,489 and $11,259) ​ ​ 839,429 ​ ​ 838,659 ​ ​ ​ 1,157,174 ​ ​ 1,156,132 Unguaranteed Unsecured Debt: ​ ​ ​ ​ ​ ​ 7.70% notes due February 2027 ($185,691 face value less unamortized debt issuance costs of $373 and $398) ​ 185,318 ​ 185,293 6.875% fixed-rate senior notes due December 2028 ($2,046 face value less unamortized debt issuance costs of $6 and $6) ​ 2,040 ​ 2,040 ​ ​ 187,358 ​ 187,333 Lease financing obligations ​ 18,211 ​ 18,912 Total debt ​ 3,346,181 ​ 2,944,170 Current maturities of long-term debt and lease financing obligations ​ (6,060) ​ (6,332) Long-term debt and lease financing obligations, less current maturities ​ $ 3,340,121 ​ $ 2,937,838 ​ Credit Facility ​ On December 20, 2018, the Company entered into a senior secured credit agreement (as amended by the First Amendment to Credit Agreement, dated as of January 6, 2020, the “Prior Credit Agreement”; and the Credit Agreement, as further amended by the Second Amendment (as defined below), the “Prior Amended Credit Agreement”), which provided for facilities consisting of a $2,700,000 senior secured asset-based revolving credit facility and a $450,000 “first-in, last-out” senior secured term loan facility, the proceeds of which were used in December 2018 to refinance its prior $2,700,000 existing credit agreement. ​ On August 20, 2021, the Company entered into the Second Amendment to Credit Agreement (the “Second Amendment”), which, among other things, amended the Prior Credit Agreement to provide for a $2,800,000 senior secured asset-based revolving credit facility (the “Prior Senior Secured Revolving Credit Facility”) and a $350,000 “first-in, last-out” senior secured term loan facility (“Prior Senior Secured Term Loan” and together with the Prior Senior Secured Revolving Credit Facility, collectively, the “Prior Amended Facilities”). The Prior Amended Facilities extended the Company’s debt maturity profile and provided additional liquidity. Borrowings under the Prior Senior Secured Revolving Credit Facility bore interest at a rate per annum equal to, at the Company’s option, (x) a base rate (determined in a customary manner) plus a margin of between 0.25% to 0.75% or (y) an adjusted LIBOR rate (determined in a customary manner) plus a margin of between 1.25% and 1.75%, in each case based upon the Average ABL Availability (as defined in the Prior Amended Credit Agreement). Borrowings under the Prior Senior Secured Term Loan bore interest at a rate per annum equal to, at the Company’s option, (x) a base rate (determined in a customary manner) plus a margin of 1.75% or (y) an adjusted LIBOR rate (determined in a customary manner) plus a margin of 2.75%. ​ On December 1, 2022, the Company entered into the Third Amendment to Credit Agreement (the “Third Amendment”), which, among other things, amended the Prior Amended Credit Agreement (the Prior Amended Credit Agreement, as modified by the Third Amendment, the “Existing Credit Agreement”) to provide for a $2,850,000 senior secured asset-based revolving credit facility (the “Existing Senior Secured Revolving Credit Facility”) and a $400,000 “first-in, last-out” senior secured term loan facility (the “Existing Senior Secured Term Loan” and, together with the Existing Senior Secured Revolving Credit Facility, collectively, the “Existing Facilities”), replaced the LIBOR rate with a Term SOFR-based rate as the applicable benchmark for the Existing Facilities, included COVID-19 vaccines in the borrowing base under the Existing Senior Secured Revolving Credit Facility, subject to limitations and conditions as specified in the Existing Credit Agreement, and increased the interest rate applicable to loans under the Existing Senior Secured Term Loan to (x) a base rate (determined in a customary manner) plus a margin of 2.00% or (y) an adjusted Term SOFR-based rate (determined in a customary manner) plus a margin of 3.00%. ​ The Company is required to pay fees between 0.250% and 0.375% per annum on the daily unused amount of the commitments under the Existing Senior Secured Revolving Credit Facility, depending on Average ABL Availability (as defined in the Existing Credit Agreement). The Existing Facilities are scheduled to mature on August 20, 2026 (subject to a springing maturity if certain of the Company’s existing secured notes are not refinanced or repaid prior to the date that is 91 days prior to the stated maturity thereof). The Company’s borrowing capacity under the Existing Senior Secured Revolving Credit Facility is based upon a specified borrowing base consisting of accounts receivable, inventory and prescription files. As of June 3, 2023, the Company had approximately $2,000,000 of borrowings outstanding under the Existing Facilities and had letters of credit outstanding under the Existing Senior Secured Revolving Credit Facility in a face amount of approximately $208,198, which resulted in remaining borrowing capacity under the Existing Senior Secured Revolving Credit Facility of $1,041,802. If at any time the total credit exposure outstanding under the Existing Senior Secured Revolving Credit Facility exceeds the borrowing base, the Company will be required to repay amounts outstanding to eliminate such shortfall. The Existing Credit Agreement restricts the Company and all of its subsidiaries including the subsidiaries that guarantee its obligations under the Existing Facilities and the secured guaranteed notes (collectively, the “Subsidiary Guarantors”) from accumulating cash on hand in excess of $200,000 at any time when revolving loans are outstanding (not including cash located in store and lockbox deposit accounts and cash necessary to cover current liabilities). The Existing Credit Agreement also states that if at any time (other than following the exercise of remedies or acceleration of any senior obligations or second priority debt and receipt of a triggering notice by the senior collateral agent from a representative of the senior obligations or the second priority debt) either (i) an event of default exists under the Existing Facilities or (ii) availability under the Existing Senior Secured Revolving Credit Facility is less than or equal to $283,250 for three consecutive business days or less than or equal to $206,000 on any day (a “cash sweep period”), the funds in the Company’s deposit accounts will be swept to a concentration account with the senior collateral agent and will be applied first to repay outstanding revolving loans under the Existing Facilities, and then held as collateral for the senior obligations until such cash sweep period is rescinded pursuant to the terms of the Existing Facilities. With the exception of EI, substantially all of the Company’s 100% owned subsidiaries guarantee the obligations under the Existing Facilities and the secured guaranteed notes. The Company’s obligations under the Existing Facilities and the Subsidiary Guarantors’ obligations under the related guarantees are secured by (i) a first-priority lien on all of the Subsidiary Guarantors’ cash and cash equivalents, accounts receivable, inventory, prescription files (including eligible script lists), intellectual property (prior to the repayment of the Existing Senior Secured Term Loan) and certain other assets arising therefrom or related thereto (including substantially all of their deposit accounts, collectively, the “ABL priority collateral”) and (ii) a second-priority lien on all of the Subsidiary Guarantors’ equipment, fixtures, investment property (other than equity interests in subsidiaries), intellectual property (following the repayment of the Existing Senior Secured Term Loan) and all other assets that do not constitute ABL priority collateral, in each case, subject to customary exceptions and limitations. The subsidiary guarantees related to the Company’s Existing Facilities and the secured guaranteed notes are full and unconditional and joint and several. The Company has no independent assets or operations. Other than EI, the subsidiaries, including joint ventures, that do not guarantee the Existing Facilities and applicable notes, are minor. ​ The Existing Credit Agreement allows the Company to have outstanding, at any time, up to an aggregate principal amount of $1,500,000 in secured second priority debt, split-priority debt, unsecured debt and disqualified preferred stock in addition to borrowings under the Existing Facilities and existing indebtedness, provided that not in excess of $750,000 of such secured second priority debt, split-priority debt, unsecured debt and disqualified preferred stock shall mature or require scheduled payments of principal prior to 90 days ​ The Existing Credit Agreement has a financial covenant that requires the Company to maintain a minimum fixed charge coverage ratio of 1.00 to 1.00 (i) on any date on which availability under the Existing Senior Secured Revolving Credit Facility is less than $206,000 or (ii) on the third consecutive business day on which availability under the Existing Senior Secured Revolving Credit Facility is less than $257,500 and, in each case, ending on and excluding the first day thereafter, if any, which is the 30th consecutive calendar day on which availability under the revolver is equal to or greater than $257,500. As of June 3, 2023, the availability under the Existing Senior Secured Revolving Credit Facility was at a level that did not trigger the Existing Credit Agreement’s financial covenant. The Existing Credit Agreement also contains covenants which place restrictions on the incurrence of debt, the payments of dividends, the making of investments, sale of assets, mergers and acquisitions and the granting of liens. The Existing Credit Agreement provides for customary events of default including nonpayment, misrepresentation, breach of covenants and bankruptcy. It is also an event of default if the Company fails to make any required payment on debt having a principal amount in excess of $50,000 or any event occurs that enables, or which with the giving of notice or the lapse of time would enable, the holder of such debt to accelerate the maturity or require the repayment, repurchase, redemption or defeasance of such debt. Fiscal 2023 and 2024 Transactions ​ On June 13, 2022, the Company commenced a series of cash tender offers to purchase up to $150,000 aggregate principal amount of the Company’s 7.500% Senior Secured Notes due 2025 (the “7.500% Notes”), 8.000% Senior Secured Notes due 2026 (the “8.000% Notes”), 7.70% Notes due 2027 (the “7.70% Notes”) and 6.875% Notes due 2028 (the “6.875% Notes”), subject to prioritized acceptance levels, a subcap of $100,000 with respect to the 7.500% Notes and proration. On June 29, 2022, pursuant to an early settlement, the Company purchased an aggregate principal amount of $114,942 of its 7.500% Notes, $51,695 aggregate principal amount of its 7.70% Notes and $26,955 aggregate principal amount of its 6.875% Notes. In connection therewith, the Company recorded a gain on debt retirement of $41,312, which included unamortized debt issuance costs. The debt repayment and related gain on debt retirement is included in the results of operations and cash flows during the second quarter of fiscal 2023. ​ On November 3, 2022, the Company announced the commencement of a cash tender offer to purchase up to $200,000 aggregate purchase price (not including any accrued and unpaid interest) of the Company’s 7.500% Notes, subject to proration. On November 30, 2022, pursuant to an early settlement, the Company purchased an aggregate principal amount of $ 160,497 and on December 9, 2022, the Company purchased an additional aggregate principal amount of $4,559 of its 7.500% Notes. In connection therewith, the Company recorded a gain on debt retirement of $38,978 , which includes unamortized debt issuance costs. The debt repayment and related gain on debt retirement is included in the results of operations and cash flows ​ On December 1, 2022, the Company entered into the Third Amendment in order to, among other things, increase the aggregate principal amount of commitments under the Existing Senior Secured Revolving Credit Facility from $2,800,000 to $2,850,000 and increase the aggregate principal amount of loans outstanding under the Existing Senior Secured Term Loan from $350,000 to $400,000. As a result of the Third Amendment, the Company has increased its liquidity by $100,000. In connection therewith, the Company recorded a loss on debt modification and retirement of $148, which includes unamortized debt issuance costs. The related loss on debt modification and retirement is included in the results of operations and cash flows during the fourth quarter of fiscal 2023. ​ Maturities ​ The aggregate annual principal payments of long-term debt for the remainder of fiscal 2024 and thereafter are as follows: 2024—$0; 2025—$0; 2026—$320,002; 2027—$3,035,609; 2028—$0 and $2,046 thereafter.

Leases

Leases	3 Months Ended
	Jun. 03, 2023
Leases
Leases	11. Leases ​ The Company leases most of its retail stores and certain distribution facilities under noncancelable operating its equipment and other assets under noncancelable operating leases with initial terms ranging from 3 to 10 years. In addition to minimum rental payments, certain store leases require additional payments based on sales volume, as well as reimbursements for taxes, maintenance and insurance. Most leases contain renewal options, certain of which involve rent increases. ​ The following table is a summary of the Company’s components of net lease cost for the thirteen week ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ ​ ​ June 3, 2023 ​ May 28, 2022 ​ Operating lease cost $ 152,672 $ 159,845 ​ Financing lease cost: ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use asset ​ 819 ​ 809 ​ Interest on long-term finance lease liabilities ​ 467 ​ 501 ​ Total finance lease costs $ 1,286 $ 1,310 ​ Short-term lease costs ​ (776) ​ 457 ​ Variable lease costs ​ 46,233 ​ 42,645 ​ Less: sublease income ​ (2,737) ​ (3,223) ​ Net lease cost $ 196,678 $ 201,034 ​ ​ Supplemental cash flow information related to leases for the thirteen week periods ended June 3, 2023 and May 28, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ June 3, 2023 May 28, 2022 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows paid for operating leases $ 160,367 $ 175,414 Operating cash flows paid for interest portion of finance leases ​ 467 ​ 501 ​ Financing cash flows paid for principal portion of finance leases ​ 996 ​ 945 ​ Right-of-use assets obtained in exchange for lease obligations: ​ ​ ​ ​ ​ ​ ​ Operating leases ​ 77,412 ​ 57,986 ​ Finance leases ​ — ​ — ​ ​ Supplemental balance sheet information related to leases as of June 3, 2023 and March 4, 2023 (in thousands, except lease term and discount rate): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, March 4, ​ 2023 2023 Operating leases: ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use asset $ 2,457,110 ​ $ 2,497,206 ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term operating lease liabilities $ 488,712 ​ $ 502,403 ​ Long-term operating lease liabilities ​ 2,345,277 ​ 2,372,943 ​ Total operating lease liabilities $ 2,833,989 ​ $ 2,875,346 ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance leases: ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net $ 13,064 ​ $ 13,576 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term debt and lease financing obligations $ 6,060 ​ $ 6,332 ​ Lease financing obligations, less current maturities ​ 12,151 ​ 12,580 ​ Total finance lease liabilities $ 18,211 ​ $ 18,912 ​ Weighted average remaining lease term ​ ​ ​ ​ ​ ​ ​ Operating leases ​ 7.4 ​ 7.5 ​ Finance leases ​ 8.3 ​ 8.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate ​ ​ ​ ​ ​ ​ ​ Operating leases ​ 7.0 % 6.5 % Finance leases ​ 10.6 % 9.0 % ​ The following table summarizes the maturity of lease liabilities under finance and operating leases as of June 3, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, 2023 ​ ​ Finance ​ Operating ​ ​ Fiscal year Leases Leases (1) Total 2024 (remaining thirty-nine weeks) $ 6,506 $ 502,374 $ 508,880 2025 ​ 4,003 ​ 602,909 ​ 606,912 2026 ​ 2,198 ​ 479,513 ​ 481,711 2027 ​ 1,500 ​ 446,677 ​ 448,177 2028 ​ 1,500 ​ 373,347 ​ 374,847 Thereafter ​ 10,548 ​ 1,211,362 ​ 1,221,910 Total lease payments ​ 26,255 ​ 3,616,182 ​ 3,642,437 Less: imputed interest ​ (8,044) ​ (782,193) ​ (790,237) Total lease liabilities $ 18,211 $ 2,833,989 $ 2,852,200 (1) – Future operating lease payments have not been reduced by minimum sublease rentals of $22 million due in the future under noncancelable leases. ​ During the thirteen week periods ended June 3, 2023 and May 28, 2022, the Company did not enter into any sale-leaseback transactions ​ The Company has additional capacity under its outstanding debt agreements to enter into additional sale-leaseback transactions.

Retirement Plans

Retirement Plans	3 Months Ended
	Jun. 03, 2023
Retirement Plans
Retirement Plans	12. Retirement Plans ​ Net periodic pension expense (income) for the thirteen May 28, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined Benefit ​ ​ ​ Pension Plan ​ ​ ​ Thirteen Week Period Ended ​ ​ ​ June 3, ​ May 28, ​ ​ 2023 2022 Service cost ​ $ 73 ​ $ 107 ​ Interest cost ​ 1,581 ​ 1,264 ​ Expected return on plan assets ​ (1,474) ​ (1,402) ​ Net periodic pension expense ​ $ 180 ​ $ (31) ​ ​ The Company is not required to make any contributions to its company-sponsored pension plans in fiscal 2024 but may make contributions to the extent such contributions are beneficial to the Company. The Company did not make any contributions to its company-sponsored pension plans in the first quarter of fiscal 2024.

Segment Reporting

Segment Reporting	3 Months Ended
	Jun. 03, 2023
Segment Reporting
Segment Reporting	13. Segment Reporting ​ The Company has two reportable segments, Retail Pharmacy Segment and Pharmacy Services Segment. ​ The Retail Pharmacy Segment’s primary business is the sale of prescription drugs and related consultation to its customers. Additionally, the Retail Pharmacy Segment sells a full selection of health and beauty aids and personal care products, seasonal merchandise and a large private brand product line. The Pharmacy Services Segment offers a full range of pharmacy benefit management services including plan design and administration, formulary management and claims processing. Additionally, the Pharmacy Services Segment offers specialty and mail order services, and drug benefits to eligible beneficiaries under the federal government’s Medicare Part D program. ​ The Company’s chief operating decision makers are its Chief Executive Officer, Chief Financial Officer and several other members of the Executive Leadership Team, (collectively the “CODM”). The CODM has ultimate responsibility for enterprise decisions. The CODM determines, in particular, resource allocation for, and monitors performance of, the consolidated enterprise, the Retail Pharmacy Segment and the Pharmacy Services Segment. The Retail Pharmacy and Pharmacy Services Segment managers have responsibility for operating decisions, allocating resources and assessing performance within their respective segments. The CODM relies on internal management reporting that analyzes enterprise results on certain key performance indicators, namely, revenues, gross profit, and Adjusted EBITDA. ​ The following is balance sheet information for the Company’s reportable segments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ ​ ​ ​ ​ Pharmacy ​ Services ​ Eliminations (1) ​ Consolidated June 3, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Assets ​ $ 5,762,566 ​ $ 1,897,726 ​ $ (9,874) ​ $ 7,650,418 Goodwill ​ 43,492 ​ ​ 312,944 ​ — ​ 356,436 March 4, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Assets ​ $ 5,487,845 ​ $ 2,049,107 ​ $ (9,590) ​ $ 7,527,362 Goodwill ​ 43,492 ​ ​ 464,444 ​ — ​ 507,936 (1) As of June 3, 2023 and March 4, 2023, intersegment eliminations include intersegment accounts receivable of $9,874 and $9,590 , respectively, that represents amounts owed from the Pharmacy Services Segment to the Retail Pharmacy Segment that are created when Pharmacy Services Segment customers use Retail Pharmacy Segment stores to purchase covered products. ​ The following table is a reconciliation of the Company’s business segments to the consolidated financial statements for the thirteen week periods ended June 3, 2023 and May 28, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail ​ Pharmacy ​ Intersegment ​ ​ ​ ​ Pharmacy Services Eliminations (1) Consolidated Thirteen Week Period Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, 2023: ​ ​ ​ ​ Revenues ​ $ 4,492,329 ​ $ 1,196,154 ​ $ (35,321) ​ $ 5,653,162 Gross Profit ​ 1,086,863 ​ 91,663 ​ — ​ 1,178,526 Adjusted EBITDA (2) ​ 70,049 ​ 21,666 ​ — ​ 91,715 Depreciation and amortization ​ ​ 55,469 ​ ​ 10,426 ​ ​ — ​ ​ 65,895 LIFO charge ​ ​ 7,500 ​ ​ — ​ ​ — ​ ​ 7,500 Stock-based compensation expense ​ ​ 723 ​ ​ 358 ​ ​ — ​ ​ 1,081 Additions to property and equipment and intangible assets ​ ​ 40,439 ​ ​ 7,064 ​ ​ — ​ ​ 47,503 May 28, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues ​ $ 4,345,356 ​ $ 1,725,857 ​ $ (56,630) ​ $ 6,014,583 Gross Profit ​ 1,097,357 ​ ​ 99,372 ​ ​ — ​ 1,196,729 Adjusted EBITDA (2) ​ 73,682 ​ ​ 26,448 ​ ​ — ​ 100,130 Depreciation and amortization ​ ​ 56,108 ​ ​ 13,965 ​ ​ — ​ ​ 70,073 LIFO charge ​ ​ — ​ ​ — ​ ​ — ​ ​ — Stock-based compensation expense ​ ​ 3,102 ​ ​ 232 ​ ​ — ​ ​ 3,334 Additions to property and equipment and intangible assets ​ ​ 78,551 ​ ​ 6,873 ​ ​ — ​ ​ 85,424 (1) Intersegment eliminations include intersegment revenues and corresponding cost of revenues that occur when Pharmacy Services Segment customers use Retail Pharmacy Segment stores to purchase covered products. When this occurs, both the Retail Pharmacy and Pharmacy Services Segments record the revenue on a stand-alone basis. ​ (2) See “Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted Net Income (Loss) per Diluted Share and Other Non-GAAP Measures” in MD&A for additional details. ​ The following is a reconciliation of net loss to Adjusted EBITDA for the thirteen May 28, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, May 28, ​ ​ 2023 2022 ​ ​ ​ (13 weeks) ​ (13 weeks) ​ Net loss ​ $ (306,718) ​ $ (110,191) ​ Interest expense ​ 65,220 ​ 48,119 ​ Income tax expense ​ 1,493 ​ 3,497 ​ Depreciation and amortization ​ ​ 65,895 ​ ​ 70,073 ​ LIFO charge ​ 7,500 ​ — ​ Facility exit and impairment charges ​ 20,001 ​ 66,571 ​ Goodwill and intangible asset impairment charges ​ 151,500 ​ — ​ Stock-based compensation expense ​ ​ 1,081 ​ ​ 3,334 ​ Restructuring-related costs ​ ​ 78,130 ​ ​ 22,646 ​ Inventory write-downs related to store closings ​ ​ 2,057 ​ ​ 7,955 ​ Litigation and other contractual settlements ​ ​ 11,050 ​ ​ 18,271 ​ Gain on sale of assets, net ​ ​ (8,193) ​ ​ (29,196) ​ Other ​ 2,699 ​ (949) ​ Adjusted EBITDA ​ $ 91,715 ​ $ 100,130 ​ ​

Commitments, Contingencies and

Commitments, Contingencies and Guarantees	3 Months Ended
	Jun. 03, 2023
Commitments, Contingencies and Guarantees
Commitments, Contingencies and Guarantees	14. Commitments, Contingencies and Guarantees ​ Legal Matters and Regulatory Proceedings The Company is regularly involved in a variety of legal matters including arbitration, litigation (and related settlement discussions), audits by counter parties under our contracts, and other claims, and is subject to regulatory proceedings including audits, inspections, inquiries, investigations, and similar actions by health care, insurance, pharmacy, tax and other governmental authorities arising in the ordinary course of its business, including, without limitation, the matters described below. Substantial damages are sought from the Company in virtually all of these matters, even if a specific amount is not specified. The Company records accruals for outstanding legal matters and applicable regulatory proceedings when it believes it is probable that a loss has been incurred, and the amount can be reasonably estimated. The Company evaluates on a quarterly basis, developments in legal matters and regulatory proceedings that could affect the amount of any existing accrual or that warrant an accrual. If a loss contingency is not both probable and estimable, the Company typically does not establish an accrued liability. Unless specifically noted otherwise, with respect to the litigation and other legal proceedings described below, the Company is unable to estimate the amount or range of reasonably possible loss due to the inherent difficulty of predicting the outcome of and uncertainties at the current stage of such litigation and legal proceedings. None of the Company’s accruals for outstanding legal matters or regulatory proceedings are currently material, individually or in the aggregate, to the Company’s consolidated financial position. However, during the course of any proceeding, developments may result in the creation or an increase of an accrual that could be material. Additionally, unfavorable or unexpected outcomes in outstanding legal matters or regulatory proceedings could exceed any accrual and impact the Company’s financial position. Further, even if the Company is successful in its legal proceedings, the Company may incur significant costs and expenses defending itself or others that it is required to indemnify, and such costs and expenses may not be subject to or may exceed reimbursement pursuant to any applicable insurance. Such proceedings may also require significant attention of management. The Company’s contingencies are subject to significant uncertainties, many of which are beyond the Company’s control, including, among other factors: (i) the stage of any proceeding and delays in scheduling; (ii) whether class or collective action status is sought and the likelihood of a class being certified; (iii) the outcome of pending or potential appeals, motions and settlement discussions; (iv) the range and magnitude of potential damages, fines or penalties, which are often unspecified or indeterminate; (v) the impact of discovery on the matter; (vi) whether novel or unsettled legal theories are at issue or advanced; (vii) whether there are significant factual issues to be resolved including findings made by juries; (viii) the exercise of discretion in enforcement actions including in the case of certain government agency investigations, whether a qui tam lawsuit (“whistleblower” action) has been filed and whether the government agency makes a decision to intervene in the lawsuit following investigation; (ix) changes in priorities following any change in political administration at the state or federal level; and/or (x) the impact, results and settlements of similar claims made against competitors and other industry participants. Additionally, the Company may determine that a settlement is in its best interest, even if it believes that it has meritorious defenses and has not previously accrued for the matter. Employment Litigation. The Company is currently a defendant in several lawsuits filed in courts in California that contain allegations regarding violations of the California Business and Professions Code, various California employment laws and regulations, industry wage orders, wage-and-hour laws, rules and regulations pertaining primarily to the classification of certain positions as exempt from overtime requirements, failure to pay premiums for missed meals and rest periods, failure to provide accurate wage statements, and failure to reimburse business expenses (collectively, the “California Cases”). ​ Some of the California Cases purport or may be determined to be class actions or representative actions under the California Private Attorneys General Act and seek substantial damages and penalties. In August 2022, the Company agreed to settle a putative class action regarding reimbursement for cell phone and mileage expenses for shift supervisors and managers/assistant managers for $1.29 million, and a putative wage and hour class action brought on behalf of drivers and other ice cream plant associates for $0.8 million. These settlements are subject to court approval. The Company has also reached an agreement in principle to resolve a putative employment collective and class action filed in federal court in New York, which raises similar allegations in addition to others about the payment frequency for certain employees (the “New York Case”). The Company has aggressively defended itself and challenged the merits of these employment lawsuits and, where applicable, allegations that the lawsuits should be certified as class or representative actions. Usual and Customary Litigation. The Company is named as a defendant in a number of lawsuits, including the cases below, that allege that the Company’s retail stores overcharged for prescription drugs by not submitting the price available to members of the Rite Aid’s Rx Savings Program as the pharmacy’s usual and customary price, and related theories. The Company is defending itself against these claims. The Company is a defendant in a putative consumer class action lawsuit in the United States District Court for the Southern District of California captioned Byron Stafford v. Rite Aid Corp Robert Josten v. Rite Aid Corp On February 6, 2019, Humana, Inc., filed a claim pursuant to a binding arbitration provision of the parties’ agreement alleging that the Company improperly submitted various usual and customary overcharges by failing to report its Rx Savings Program prices as its usual and customary prices to Humana. An arbitration hearing was held in this matter in November 2021. On April 22, 2022, the arbitrator issued an Opinion and Final Award against the Company for breach of contract awarding Humana $122.6 million, which includes $40.7 million in prejudgment interest (the “Arbitration Award”). The Company continues to believe that the Arbitration Award contains a number of significant factual and legal errors. On June 20, 2022, the Company both opposed Humana’s effort to confirm the Arbitration Award and petitioned the United States District Court for Western District of Kentucky for vacatur of the Arbitration Award, as is its right under the Federal Arbitration Act (“FAA”). As such, the Company has determined that it is not probable that a loss has occurred. The FAA, as interpreted and applied by federal courts, permits vacatur when, among other things, an arbitrator’s decision: (1) is irreconcilable with the terms of a contract between the parties; (2) rests on a plain legal error that manifests disregard for the law; or (3) incorporates a refusal to consider pertinent, material evidence. Similarly, the FAA, as interpreted and applied by federal courts, permits modification of an arbitrator’s decision to correct an evident material miscalculation of figures. Although the Company cannot make any assurances of success in its efforts, it is the Company’s view that the errors in the Arbitration Award support both vacatur and modification under the FAA, the effect of either of which could be to set aside the Arbitration Award or reduce or eliminate the damages provided for in the Arbitration Award. Argument on Humana’s petition to confirm the Arbitration Award and Rite Aid’s motion for vacatur of the Arbitration Award was held May 10, 2023 and we await the court’s decision. Depending on the court’s determination, it is possible that one or both parties may appeal the decision, or seek other remedies. The Company is a defendant in two consolidated lawsuits pending in the United States District Court for the District of Minnesota filed in 2020 by various Blue Cross/Blue Shield plans that operate in eight different states (North Carolina, North Dakota, Alabama, Utah, Minnesota, Oregon, Washington and New Jersey) alleging that the Company improperly submitted various usual and customary overcharges to several Pharmacy Benefit Managers, all but one of which are not owned by plaintiffs, with which Rite Aid and the insurers had independent contracts. On May 22, 2023, the Company won a defense verdict in the jury trial of a lawsuit filed in Delaware state court in 2019 by multiple Centene entities alleging that the Company overcharged for prescriptions by improperly reporting usual and customary prices. The Centene entities have filed a motion seeking a new trial. The Company is defending a similar lawsuit filed in 2022 by WellCare in Florida state court. Drug Utilization Review and Code 1 Litigation In June 2012, qui tam Controlled Substances Litigation, Audits and Investigations The Company, along with various other defendants, is named in multiple opioid-related lawsuits filed by counties, cities, municipalities, Native American tribes, hospitals, third-party payers, and others across the United States. In December 2017, the U.S. Judicial Panel on Multidistrict Litigation (“JPML”) consolidated and transferred more than a thousand federal opioid-related lawsuits that name the Company as a defendant to the multi-district litigation (“MDL”) pending in the United States District Court for the Northern District of Ohio under In re National Prescription Opiate Litigation The Company also has received warrants, subpoenas, CIDs, and other requests for documents and information from, and is being investigated by, the federal and state governments regarding opioids and other controlled substances. The Company has been cooperating with and responding to these investigatory inquiries. As previously disclosed, on December 13, 2022, a qui tam complaint filed by three former Rite Aid pharmacy personnel (Andrew White, Mark Rosenberg, and Ann Wegelin) (collectively, “ qui tam ​ In April 2019, the Company initiated a coverage action styled Rite Aid Corporation et al. v. ACE American Ins. Co. et al suits set for trial based on the specific allegations at issue in those cases. The matter has been remanded to the lower court for further proceedings. Miscellaneous Litigation and Investigations. Following the Company’s response to a 2020 CID from the Federal Trade Commission (“FTC”) with respect to consumer protection laws, the Company is seeking to negotiate a resolution with the FTC. The allegations relate to certain business practices that the Company has not engaged in for nearly three years, and the Company currently believes that any resolution of that CID would not likely require a monetary payment. During the course of the Company’s discussions with the FTC Staff in connection with its response to that CID, the FTC Staff also requested certain information from the Company related to compliance with the Company’s 2010 FTC Consent Order. The Company cooperated with the request, however, the FTC Staff informed the Company that absent an agreed resolution, it would recommend that the FTC file a complaint against the Company for violation of the Consent Order, including a request for a monetary payment and other relief. The FTC has now combined the two matters and is seeking a single resolution of both, such that discussions related to one matter may affect the ability to resolve the other. The Company is evaluating both matters, including a potential agreed resolution, although no assurance can be given that the matter will be resolved to the parties’ mutual satisfaction, or that a resolution will not include a monetary payment, and that the payment will not be material. ​ The Company has received CIDs from the Department of Justice related to the Medicare Part D plan sponsored by a subsidiary of the Company. The Company is also defending a lawsuit asserting numerous claims based on allegations surrounding the Company’s use of a certain font including in the Company’s rebranded logo. The Company is defending a putative class action it has removed to federal court in California regarding alleged privacy breaches. ​ The Company is defending a putative shareholder class action currently captioned Page v. Rite Aid Corporation et al. . The matter names Rite Aid Corporation and certain executives individually as defendants and raises claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 related to alleged misstatements and omissions concerning the growth of Holland v. Rite Aid Corporation et al. . The matter names Rite Aid Corporation and certain former and current executives individually as defendants and raises claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 related to the DOJ’s Complaint and alleged misstatements and omissions concerning the Company’s ​

Supplementary Cash Flow Data

Supplementary Cash Flow Data	3 Months Ended
	Jun. 03, 2023
Supplementary Cash Flow Data
Supplementary Cash Flow Data	15. Supplementary Cash Flow Data ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ ​ June 3, 2023 May 28, 2022 ​ Cash paid for interest ​ $ 34,452 ​ $ 11,230 ​ Cash payments for income taxes, net ​ $ 1,006 ​ $ 13,290 ​ Equipment financed under capital leases ​ $ 321 ​ $ — ​ Gross borrowings from revolver ​ $ 829,000 ​ $ 860,000 ​ Gross repayments to revolver ​ $ 429,000 ​ $ 569,000 ​ ​ Significant components of cash provided by Other Liabilities of $51,385 for the thirteen ​ Cash used in Other Assets of $64,687 for the thirteen week period ended June 3, 2023 is comprised primarily of prepaid rent.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 03, 2023
Basis of Presentation and Significant Accounting Policies
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete annual financial statements. The accompanying financial information reflects all adjustments which are of a recurring nature and, in the opinion of management, are necessary for a fair presentation of the results for the interim periods. The results of operations for the thirteen week period ended June 3, 2023 are not necessarily indicative of the results to be expected for the full year. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Rite Aid Corporation (“Rite Aid”) and Subsidiaries (together with Rite Aid, the “Company”) Fiscal 2023 10-K. ​
Revenue Recognition	Revenue Recognition ​ The following table disaggregates the Company’s revenue by major source in each segment for the thirteen week periods ended June 3, 2023 and May 28, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, May 28, ​ 2023 ​ 2022 ​ In thousands (13 weeks) (13 weeks) Retail Pharmacy Segment: ​ ​ Pharmacy sales $ 3,296,974 ​ $ 3,053,449 ​ Front-end sales 1,167,345 ​ 1,261,206 ​ Other revenue 28,010 ​ 30,701 ​ Total Retail Pharmacy Segment ​ 4,492,329 ​ ​ 4,345,356 ​ Pharmacy Services Segment 1,196,154 ​ 1,725,857 ​ Intersegment elimination (35,321) ​ (56,630) ​ Total revenue $ 5,653,162 ​ $ 6,014,583 ​ ​ The Retail Pharmacy Segment offered a chain-wide loyalty card program titled wellness+. Individual customers were able to become members of the wellness+ program. Members participating in the wellness+ loyalty card program earned points on a calendar year basis for eligible front-end merchandise purchases and qualifying prescription purchases. The wellness+ program was terminated as of July 1, 2020, with benefits earned as of that date available to be used through the end of calendar 2020. Beginning in December 2020, the Company granted temporary extensions of benefits to certain previous members that were eligible for a discount as of the end of each previous 6 month period such that those prior members were eligible to continue to receive that discount on purchases made through the subsequent 6 months with no additional purchase requirement. New and existing customers who were not already eligible for program benefits also had the opportunity to earn additional discounts on purchases made through each 6 month period. A final extension was granted on December 31, 2021 through February 26, 2022 at which point all discounts were terminated. ​ A new loyalty program, Rite Aid Rewards, was initiated on February 27, 2022. Customers that enroll in the new program earn points for each dollar spent on front of store purchases as well as for eligible pharmacy prescriptions. Points can then be converted into a “Rite Aid Rewards” coupon that can be tendered as payment in a future purchase. Each point is worth $0.002. Customers must accumulate 1,000 points and create an online account in order to convert earned points to a “Rite Aid Rewards” coupon. Unused/unconverted points expire after 90 days. Unredeemed “Rite Aid Rewards” coupons expire 30 days after conversion from points earned. ​ Points earned pursuant to the Rite Aid Rewards program represent a performance obligation. The value of unredeemed Rite Aid Rewards points is deferred as a contract liability (included in other current liabilities). As members redeem points in the form of a Rite Aid Rewards coupon or when points or unredeemed Rite Aid Rewards coupons expire, the Retail Pharmacy Segment recognizes the redeemed/expired portion of the deferred contract liability into revenue. For the thirteen week period ended June 3, 2023, the Company recognized $177 of deferred contract liability into revenue. The Retail Pharmacy Segment had accrued contract liabilities of $1,853 and $2,030 as of June 3, 2023 and March 4, 2023, respectively.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements ​ In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	3 Months Ended
	Jun. 03, 2023
Basis of Presentation and Significant Accounting Policies
Schedule of revenues	​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, May 28, ​ 2023 ​ 2022 ​ In thousands (13 weeks) (13 weeks) Retail Pharmacy Segment: ​ ​ Pharmacy sales $ 3,296,974 ​ $ 3,053,449 ​ Front-end sales 1,167,345 ​ 1,261,206 ​ Other revenue 28,010 ​ 30,701 ​ Total Retail Pharmacy Segment ​ 4,492,329 ​ ​ 4,345,356 ​ Pharmacy Services Segment 1,196,154 ​ 1,725,857 ​ Intersegment elimination (35,321) ​ (56,630) ​ Total revenue $ 5,653,162 ​ $ 6,014,583 ​

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Jun. 03, 2023
Restructuring
Schedule of restructuring-related costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ Pharmacy ​ ​ ​ ​ Segment Services Segment Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restructuring-related costs ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance and related costs associated with ongoing reorganization efforts (a) $ 440 $ — $ 440 Professional and other fees relating to restructuring activities (b) ​ 76,029 ​ 1,661 ​ 77,690 Total restructuring-related costs $ 76,469 $ 1,661 $ 78,130 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ Pharmacy ​ ​ ​ ​ Segment Services Segment Total ​ ​ ​ ​ ​ ​ ​ ​ ​ Restructuring-related costs ​ ​ ​ ​ ​ ​ ​ ​ Severance and related costs associated with ongoing reorganization efforts (a) $ 11,288 $ 616 $ 11,904 Professional and other fees relating to restructuring activities (b) 6,083 ​ 4,659 ​ 10,742 Total restructuring-related costs $ 17,371 $ 5,275 $ 22,646
Schedule of restructuring-related liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance and related ​ Professional and ​ ​ ​ ​ costs (a) other fees (b) Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of March 4, 2023 $ 7,658 $ 42,154 $ 49,812 Additions charged to expense ​ ​ 440 ​ ​ 77,690 ​ ​ 78,130 Cash payments ​ ​ (2,738) ​ ​ (33,962) ​ ​ (36,700) Balance as of June 3, 2023 $ 5,360 $ 85,882 $ 91,242 (a) – Severance and related costs reflect severance accruals, executive search fees, outplacement services and other similar charges associated with ongoing reorganization efforts. (b) – Professional and other fees include costs incurred in connection with the identification and implementation of initiatives associated with restructuring activities.

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Jun. 03, 2023
Loss Per Share
Schedule of calculation of basic and diluted income (loss) per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ ​ ​ June 3, ​ May 28, ​ ​ 2023 2022 ​ Basic and diluted loss per share: ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ Net loss attributable to common stockholders — basic and diluted ​ $ (306,718) ​ $ (110,191) ​ Denominator: ​ ​ ​ ​ ​ ​ ​ Basic and diluted weighted average shares ​ 55,179 ​ 54,348 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted loss per share ​ $ (5.56) ​ $ (2.03) ​

Facility Exit and Impairment _2

Facility Exit and Impairment Charges (Tables)	3 Months Ended
	Jun. 03, 2023
Facility Exit and Impairment Charges
Schedule of amounts relating to facility exit and impairment charges	​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period ​ Ended ​ ​ June 3, May 28, ​ 2023 2022 Impairment charges ​ $ 11,738 $ 35,036 Facility exit charges ​ 8,263 ​ 31,535 ​ ​ $ 20,001 $ 66,571
Schedule of fair value of long-lived assets measured on non-recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Values ​ Total ​ ​ ​ ​ ​ ​ ​ ​ as of ​ Charges ​ Level 1 Level 2 Level 3 Impairment Date June 3, 2023 Long-lived assets held for use ​ $ — ​ $ — ​ $ — ​ $ — ​ $ (11,738) Long-lived assets held for sale ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Total ​ $ — ​ $ — ​ $ — ​ $ — ​ $ (11,738) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Values ​ Total ​ ​ ​ ​ ​ ​ ​ ​ as of ​ Charges ​ Level 1 Level 2 Level 3 Impairment Date May 28, 2022 Long-lived assets held for use ​ $ — ​ $ 4,192 ​ $ — ​ $ 4,192 ​ $ (35,036) Long-lived assets held for sale ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Total ​ $ — ​ $ 4,192 ​ $ — ​ $ 4,192 ​ $ (35,036)
Schedule of closed store and distribution center charges related to new closures, changes in assumptions and interest accretion	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period ​ ​ ​ Ended ​ ​ ​ June 3, ​ May 28, ​ ​ 2023 2022 Balance—beginning of period ​ $ 49,772 ​ $ 18,688 ​ Provision for present value of executory costs for leases exited ​ 5,598 ​ 26,499 ​ Changes in assumptions and other adjustments ​ ​ (2,090) ​ ​ (191) ​ Interest accretion ​ 534 ​ 98 ​ Cash payments ​ (4,041) ​ (1,692) ​ Balance—end of period ​ $ 49,773 ​ $ 43,402 ​

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Jun. 03, 2023
Goodwill and Other Intangible Assets
Summary of the changes in the carrying amount of goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ ​ ​ ​ Pharmacy ​ Services ​ Total Balance, March 4, 2023 ​ ​ 43,492 ​ ​ 464,444 ​ ​ 507,936 Goodwill impairment ​ ​ — ​ ​ (151,500) ​ ​ (151,500) Balance, June 3, 2023 ​ $ 43,492 ​ $ 312,944 ​ $ 356,436
Schedule of indefinite-lived intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, 2023 ​ March 4, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Average ​ Gross ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Amortization ​ Carrying ​ Accumulated ​ ​ ​ ​ Amortization ​ Amount Amortization Net Period Amount Amortization Net Period Non-compete agreements and other (a) ​ $ 205,249 ​ $ (184,911) ​ $ 20,338 ​ 3 years ​ $ 201,919 ​ $ (182,957) ​ $ 18,962 ​ 3 years Prescription files ​ 1,035,505 ​ ​ (934,114) ​ ​ 101,391 5 years ​ 1,029,665 ​ ​ (928,478) ​ ​ 101,187 5 years Customer relationships (a) ​ ​ 388,000 ​ ​ (310,842) ​ ​ 77,158 ​ 8 years ​ ​ 388,000 ​ ​ (306,139) ​ ​ 81,861 ​ 9 years CMS license ​ ​ 57,500 ​ ​ (25,904) ​ ​ 31,596 ​ 3 years ​ ​ 57,500 ​ ​ (23,798) ​ ​ 33,702 ​ 4 years Claims adjudication and other developed software ​ ​ 58,985 ​ ​ (58,985) ​ ​ — ​ 0 years ​ ​ 58,985 ​ ​ (58,985) ​ ​ — ​ 0 years Total finite ​ $ 1,745,239 ​ $ (1,514,756) ​ ​ 230,483 ​ ​ ​ ​ $ 1,736,069 ​ $ (1,500,357) ​ $ 235,712 ​ ​ ​ Trademarks ​ ​ 14,400 ​ ​ — ​ ​ 14,400 ​ Indefinite ​ ​ ​ 14,400 ​ ​ — ​ ​ 14,400 ​ Indefinite ​ Total ​ $ 1,759,639 ​ $ (1,514,756) ​ $ 244,883 ​ ​ ​ ​ $ 1,750,469 ​ $ (1,500,357) ​ $ 250,112 ​ ​ ​ (a) Amortized on an accelerated basis which is determined based on the remaining useful economic lives of the customer relationships that are expected to contribute directly or indirectly to future cash flows.
Schedule of finite-lived intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, 2023 ​ March 4, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Average ​ Gross ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Amortization ​ Carrying ​ Accumulated ​ ​ ​ ​ Amortization ​ Amount Amortization Net Period Amount Amortization Net Period Non-compete agreements and other (a) ​ $ 205,249 ​ $ (184,911) ​ $ 20,338 ​ 3 years ​ $ 201,919 ​ $ (182,957) ​ $ 18,962 ​ 3 years Prescription files ​ 1,035,505 ​ ​ (934,114) ​ ​ 101,391 5 years ​ 1,029,665 ​ ​ (928,478) ​ ​ 101,187 5 years Customer relationships (a) ​ ​ 388,000 ​ ​ (310,842) ​ ​ 77,158 ​ 8 years ​ ​ 388,000 ​ ​ (306,139) ​ ​ 81,861 ​ 9 years CMS license ​ ​ 57,500 ​ ​ (25,904) ​ ​ 31,596 ​ 3 years ​ ​ 57,500 ​ ​ (23,798) ​ ​ 33,702 ​ 4 years Claims adjudication and other developed software ​ ​ 58,985 ​ ​ (58,985) ​ ​ — ​ 0 years ​ ​ 58,985 ​ ​ (58,985) ​ ​ — ​ 0 years Total finite ​ $ 1,745,239 ​ $ (1,514,756) ​ ​ 230,483 ​ ​ ​ ​ $ 1,736,069 ​ $ (1,500,357) ​ $ 235,712 ​ ​ ​ Trademarks ​ ​ 14,400 ​ ​ — ​ ​ 14,400 ​ Indefinite ​ ​ ​ 14,400 ​ ​ — ​ ​ 14,400 ​ Indefinite ​ Total ​ $ 1,759,639 ​ $ (1,514,756) ​ $ 244,883 ​ ​ ​ ​ $ 1,750,469 ​ $ (1,500,357) ​ $ 250,112 ​ ​ ​ (a) Amortized on an accelerated basis which is determined based on the remaining useful economic lives of the customer relationships that are expected to contribute directly or indirectly to future cash flows.

Indebtedness and Credit Agree_2

Indebtedness and Credit Agreement (Tables)	3 Months Ended
	Jun. 03, 2023
Indebtedness and Credit Agreement
Summary of indebtedness and lease financing obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, ​ March 4, ​ 2023 2023 Secured Debt: ​ ​ ​ ​ ​ ​ Senior secured revolving credit facility due August 2026 ($1,600,000 and $1,200,000 face value less unamortized debt issuance costs of $14,626 and $16,117) ​ ​ 1,585,374 ​ ​ 1,183,883 FILO Term Loan due August 2026 ($400,000 face value less unamortized debt issuance costs of $1,936 and $2,090) ​ ​ 398,064 ​ ​ 397,910 ​ ​ 1,983,438 ​ 1,581,793 Second Lien Secured Debt: ​ ​ ​ ​ ​ ​ 7.500% senior secured notes due July 2025 ($320,002 face value less unamortized debt issuance costs of $2,257 and $2,529) ​ 317,745 ​ 317,473 8.000% senior secured notes due November 2026 ($849,918 face value less unamortized debt issuance costs of $10,489 and $11,259) ​ ​ 839,429 ​ ​ 838,659 ​ ​ ​ 1,157,174 ​ ​ 1,156,132 Unguaranteed Unsecured Debt: ​ ​ ​ ​ ​ ​ 7.70% notes due February 2027 ($185,691 face value less unamortized debt issuance costs of $373 and $398) ​ 185,318 ​ 185,293 6.875% fixed-rate senior notes due December 2028 ($2,046 face value less unamortized debt issuance costs of $6 and $6) ​ 2,040 ​ 2,040 ​ ​ 187,358 ​ 187,333 Lease financing obligations ​ 18,211 ​ 18,912 Total debt ​ 3,346,181 ​ 2,944,170 Current maturities of long-term debt and lease financing obligations ​ (6,060) ​ (6,332) Long-term debt and lease financing obligations, less current maturities ​ $ 3,340,121 ​ $ 2,937,838

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 03, 2023
Leases
Schedule of components of net lease cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ ​ ​ June 3, 2023 ​ May 28, 2022 ​ Operating lease cost $ 152,672 $ 159,845 ​ Financing lease cost: ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use asset ​ 819 ​ 809 ​ Interest on long-term finance lease liabilities ​ 467 ​ 501 ​ Total finance lease costs $ 1,286 $ 1,310 ​ Short-term lease costs ​ (776) ​ 457 ​ Variable lease costs ​ 46,233 ​ 42,645 ​ Less: sublease income ​ (2,737) ​ (3,223) ​ Net lease cost $ 196,678 $ 201,034 ​ ​
Schedule of supplemental cash flow information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ June 3, 2023 May 28, 2022 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows paid for operating leases $ 160,367 $ 175,414 Operating cash flows paid for interest portion of finance leases ​ 467 ​ 501 ​ Financing cash flows paid for principal portion of finance leases ​ 996 ​ 945 ​ Right-of-use assets obtained in exchange for lease obligations: ​ ​ ​ ​ ​ ​ ​ Operating leases ​ 77,412 ​ 57,986 ​ Finance leases ​ — ​ — ​
Schedule of supplemental balance sheet information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, March 4, ​ 2023 2023 Operating leases: ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use asset $ 2,457,110 ​ $ 2,497,206 ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term operating lease liabilities $ 488,712 ​ $ 502,403 ​ Long-term operating lease liabilities ​ 2,345,277 ​ 2,372,943 ​ Total operating lease liabilities $ 2,833,989 ​ $ 2,875,346 ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance leases: ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net $ 13,064 ​ $ 13,576 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term debt and lease financing obligations $ 6,060 ​ $ 6,332 ​ Lease financing obligations, less current maturities ​ 12,151 ​ 12,580 ​ Total finance lease liabilities $ 18,211 ​ $ 18,912 ​ Weighted average remaining lease term ​ ​ ​ ​ ​ ​ ​ Operating leases ​ 7.4 ​ 7.5 ​ Finance leases ​ 8.3 ​ 8.0 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate ​ ​ ​ ​ ​ ​ ​ Operating leases ​ 7.0 % 6.5 % Finance leases ​ 10.6 % 9.0 % ​
Schedule of minimum lease payments, financing leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, 2023 ​ ​ Finance ​ Operating ​ ​ Fiscal year Leases Leases (1) Total 2024 (remaining thirty-nine weeks) $ 6,506 $ 502,374 $ 508,880 2025 ​ 4,003 ​ 602,909 ​ 606,912 2026 ​ 2,198 ​ 479,513 ​ 481,711 2027 ​ 1,500 ​ 446,677 ​ 448,177 2028 ​ 1,500 ​ 373,347 ​ 374,847 Thereafter ​ 10,548 ​ 1,211,362 ​ 1,221,910 Total lease payments ​ 26,255 ​ 3,616,182 ​ 3,642,437 Less: imputed interest ​ (8,044) ​ (782,193) ​ (790,237) Total lease liabilities $ 18,211 $ 2,833,989 $ 2,852,200 (1) – Future operating lease payments have not been reduced by minimum sublease rentals of $22 million due in the future under noncancelable leases. ​
Schedule of minimum lease payments, operating leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, 2023 ​ ​ Finance ​ Operating ​ ​ Fiscal year Leases Leases (1) Total 2024 (remaining thirty-nine weeks) $ 6,506 $ 502,374 $ 508,880 2025 ​ 4,003 ​ 602,909 ​ 606,912 2026 ​ 2,198 ​ 479,513 ​ 481,711 2027 ​ 1,500 ​ 446,677 ​ 448,177 2028 ​ 1,500 ​ 373,347 ​ 374,847 Thereafter ​ 10,548 ​ 1,211,362 ​ 1,221,910 Total lease payments ​ 26,255 ​ 3,616,182 ​ 3,642,437 Less: imputed interest ​ (8,044) ​ (782,193) ​ (790,237) Total lease liabilities $ 18,211 $ 2,833,989 $ 2,852,200 (1) – Future operating lease payments have not been reduced by minimum sublease rentals of $22 million due in the future under noncancelable leases. ​

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Jun. 03, 2023
Retirement Plans
Summary of net periodic pension expense for the defined benefit plans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined Benefit ​ ​ ​ Pension Plan ​ ​ ​ Thirteen Week Period Ended ​ ​ ​ June 3, ​ May 28, ​ ​ 2023 2022 Service cost ​ $ 73 ​ $ 107 ​ Interest cost ​ 1,581 ​ 1,264 ​ Expected return on plan assets ​ (1,474) ​ (1,402) ​ Net periodic pension expense ​ $ 180 ​ $ (31) ​

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Jun. 03, 2023
Segment Reporting
Schedule of balance sheet information for the Company's reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ ​ ​ ​ ​ Pharmacy ​ Services ​ Eliminations (1) ​ Consolidated June 3, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Assets ​ $ 5,762,566 ​ $ 1,897,726 ​ $ (9,874) ​ $ 7,650,418 Goodwill ​ 43,492 ​ ​ 312,944 ​ — ​ 356,436 March 4, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Assets ​ $ 5,487,845 ​ $ 2,049,107 ​ $ (9,590) ​ $ 7,527,362 Goodwill ​ 43,492 ​ ​ 464,444 ​ — ​ 507,936 (1) As of June 3, 2023 and March 4, 2023, intersegment eliminations include intersegment accounts receivable of $9,874 and $9,590 , respectively, that represents amounts owed from the Pharmacy Services Segment to the Retail Pharmacy Segment that are created when Pharmacy Services Segment customers use Retail Pharmacy Segment stores to purchase covered products.
Schedule of reconciliation of the Company's business segments to the condensed consolidated financial statements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail ​ Pharmacy ​ Intersegment ​ ​ ​ ​ Pharmacy Services Eliminations (1) Consolidated Thirteen Week Period Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, 2023: ​ ​ ​ ​ Revenues ​ $ 4,492,329 ​ $ 1,196,154 ​ $ (35,321) ​ $ 5,653,162 Gross Profit ​ 1,086,863 ​ 91,663 ​ — ​ 1,178,526 Adjusted EBITDA (2) ​ 70,049 ​ 21,666 ​ — ​ 91,715 Depreciation and amortization ​ ​ 55,469 ​ ​ 10,426 ​ ​ — ​ ​ 65,895 LIFO charge ​ ​ 7,500 ​ ​ — ​ ​ — ​ ​ 7,500 Stock-based compensation expense ​ ​ 723 ​ ​ 358 ​ ​ — ​ ​ 1,081 Additions to property and equipment and intangible assets ​ ​ 40,439 ​ ​ 7,064 ​ ​ — ​ ​ 47,503 May 28, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues ​ $ 4,345,356 ​ $ 1,725,857 ​ $ (56,630) ​ $ 6,014,583 Gross Profit ​ 1,097,357 ​ ​ 99,372 ​ ​ — ​ 1,196,729 Adjusted EBITDA (2) ​ 73,682 ​ ​ 26,448 ​ ​ — ​ 100,130 Depreciation and amortization ​ ​ 56,108 ​ ​ 13,965 ​ ​ — ​ ​ 70,073 LIFO charge ​ ​ — ​ ​ — ​ ​ — ​ ​ — Stock-based compensation expense ​ ​ 3,102 ​ ​ 232 ​ ​ — ​ ​ 3,334 Additions to property and equipment and intangible assets ​ ​ 78,551 ​ ​ 6,873 ​ ​ — ​ ​ 85,424 (1) Intersegment eliminations include intersegment revenues and corresponding cost of revenues that occur when Pharmacy Services Segment customers use Retail Pharmacy Segment stores to purchase covered products. When this occurs, both the Retail Pharmacy and Pharmacy Services Segments record the revenue on a stand-alone basis. ​ (2) See “Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted Net Income (Loss) per Diluted Share and Other Non-GAAP Measures” in MD&A for additional details.
Schedule of reconciliation of net (loss) income to Adjusted EBITDA	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 3, May 28, ​ ​ 2023 2022 ​ ​ ​ (13 weeks) ​ (13 weeks) ​ Net loss ​ $ (306,718) ​ $ (110,191) ​ Interest expense ​ 65,220 ​ 48,119 ​ Income tax expense ​ 1,493 ​ 3,497 ​ Depreciation and amortization ​ ​ 65,895 ​ ​ 70,073 ​ LIFO charge ​ 7,500 ​ — ​ Facility exit and impairment charges ​ 20,001 ​ 66,571 ​ Goodwill and intangible asset impairment charges ​ 151,500 ​ — ​ Stock-based compensation expense ​ ​ 1,081 ​ ​ 3,334 ​ Restructuring-related costs ​ ​ 78,130 ​ ​ 22,646 ​ Inventory write-downs related to store closings ​ ​ 2,057 ​ ​ 7,955 ​ Litigation and other contractual settlements ​ ​ 11,050 ​ ​ 18,271 ​ Gain on sale of assets, net ​ ​ (8,193) ​ ​ (29,196) ​ Other ​ 2,699 ​ (949) ​ Adjusted EBITDA ​ $ 91,715 ​ $ 100,130 ​

Supplementary Cash Flow Data (T

Supplementary Cash Flow Data (Tables)	3 Months Ended
	Jun. 03, 2023
Supplementary Cash Flow Data
Schedule of supplementary cash flow data	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ ​ June 3, 2023 May 28, 2022 ​ Cash paid for interest ​ $ 34,452 ​ $ 11,230 ​ Cash payments for income taxes, net ​ $ 1,006 ​ $ 13,290 ​ Equipment financed under capital leases ​ $ 321 ​ $ — ​ Gross borrowings from revolver ​ $ 829,000 ​ $ 860,000 ​ Gross repayments to revolver ​ $ 429,000 ​ $ 569,000 ​ ​

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Sales (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Product Class
Revenues	$ 5,653,162	$ 6,014,583
Intersegment elimination
Product Class
Revenues	(35,321)	(56,630)
Retail Pharmacy Segment
Product Class
Other revenue	28,010	30,701
Revenues	4,492,329	4,345,356
Retail Pharmacy Segment | Pharmacy sales
Product Class
Revenues	3,296,974	3,053,449
Retail Pharmacy Segment | Front end sales
Product Class
Revenues	1,167,345	1,261,206
Pharmacy Services Segment
Product Class
Revenues	$ 1,196,154	$ 1,725,857

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - FY thru Revenue (Details)		1 Months Ended	3 Months Ended
	Feb. 27, 2022 USD ($) Point	Dec. 31, 2020	Jun. 03, 2023 USD ($)	Mar. 04, 2023 USD ($)
Wellness plus program
Revenue Recognition
Loyalty discount eligibility period		6 months
Rite aid rewards program | Retail Pharmacy Segment
Revenue Recognition
Value of each reward point earned	$ 0.002
Minimum points required for conversion into rewards | Point	1,000
Threshold period for expiry of unconverted points	90 days
Threshold period for expiry of unredeemed rewards	30 days
Deferred contract liability into revenue			$ 177,000
Accrued contract liabilities			$ 1,853,000	$ 2,030,000

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Restructuring related costs
Total restructuring-related costs	$ 78,130	$ 22,646
Anticipated restructuring-related costs during fiscal 2024	155,000
Total restructuring-related costs | Selling, general and administrative expenses
Restructuring related costs
Total restructuring-related costs	78,130	22,646
Total restructuring-related costs | Accrued salaries, wages and other current liabilities
Restructuring related costs
Balance-beginning of period	49,812
Additions charged to expense	78,130
Cash payments	(36,700)
Balance-end of period	91,242
Severance and related costs | Selling, general and administrative expenses
Restructuring related costs
Total restructuring-related costs	440	11,904
Severance and related costs | Accrued salaries, wages and other current liabilities
Restructuring related costs
Balance-beginning of period	7,658
Additions charged to expense	440
Cash payments	(2,738)
Balance-end of period	5,360
Professional and other fees | Selling, general and administrative expenses
Restructuring related costs
Total restructuring-related costs	77,690	10,742
Professional and other fees | Accrued salaries, wages and other current liabilities
Restructuring related costs
Balance-beginning of period	42,154
Additions charged to expense	77,690
Cash payments	(33,962)
Balance-end of period	85,882
Retail Pharmacy Segment | Total restructuring-related costs | Selling, general and administrative expenses
Restructuring related costs
Total restructuring-related costs	76,469	17,371
Retail Pharmacy Segment | Severance and related costs | Selling, general and administrative expenses
Restructuring related costs
Total restructuring-related costs	440	11,288
Retail Pharmacy Segment | Professional and other fees | Selling, general and administrative expenses
Restructuring related costs
Total restructuring-related costs	76,029	6,083
Pharmacy Services Segment | Total restructuring-related costs | Selling, general and administrative expenses
Restructuring related costs
Total restructuring-related costs	1,661	5,275
Pharmacy Services Segment | Severance and related costs | Selling, general and administrative expenses
Restructuring related costs
Total restructuring-related costs		616
Pharmacy Services Segment | Professional and other fees | Selling, general and administrative expenses
Restructuring related costs
Total restructuring-related costs	$ 1,661	$ 4,659

Loss Per Share (Details)

Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Numerator:
Net loss attributable to common stockholders - basic	$ (306,718)	$ (110,191)
Net loss attributable to common stockholders - diluted	$ (306,718)	$ (110,191)
Denominator:
Basic weighted average shares	55,179	54,348
Diluted weighted average shares	55,179	54,348
Basic loss per share:
Basic loss per share	$ (5.56)	$ (2.03)
Diluted loss per share:
Diluted loss per share	$ (5.56)	$ (2.03)
Incentive Stock options
Antidilutive securities excluded from computation of income per share
Shares excluded from the computation of diluted income (loss) per share	29	700
Unvested Restricted stock
Antidilutive securities excluded from computation of income per share
Shares excluded from the computation of diluted income (loss) per share	1,510	1,247

Facility Exit and Impairment _3

Facility Exit and Impairment Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Lease termination and impairment charges
Facility exit and impairment charges	$ 20,001	$ 66,571
Impairment charges
Lease termination and impairment charges
Facility exit and impairment charges	11,738	35,036
Facility exit charges
Lease termination and impairment charges
Facility exit and impairment charges	$ 8,263	$ 31,535

Facility Exit and Impairment _4

Facility Exit and Impairment Charges - Fair value (Details) - Nonrecurring basis - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets held, impairment charges	$ (11,738)	$ (35,036)
Long-lived assets held for sale, impairment charges
Total	(11,738)	(35,036)
Carrying value of long-lived assets	11,738	39,228
Level 1
Revenues from External Customers and Long-Lived Assets [Line Items]
Fair value of Long-lived assets held for sale
Total
Fair value of Long-lived assets held for use
Level 2
Revenues from External Customers and Long-Lived Assets [Line Items]
Fair value of Long-lived assets held for sale
Total		4,192
Fair value of Long-lived assets held for use		4,192
Level 3
Revenues from External Customers and Long-Lived Assets [Line Items]
Fair value of Long-lived assets held for sale
Total
Fair value of Long-lived assets held for use
Fair Value
Revenues from External Customers and Long-Lived Assets [Line Items]
Fair value of Long-lived assets held for sale	0
Total	0	4,192
Fair value of Long-lived assets held for use	$ 0	$ 4,192

Facility Exit and Impairment _5

Facility Exit and Impairment Charges - Closed Store Liability rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Closed store liability
Provision for present value of executory costs for leases exited	$ 78,130	$ 22,646
Facility Exit Charges
Closed store liability
Balance-beginning of period	49,772	18,688
Provision for present value of executory costs for leases exited	5,598	26,499
Changes in assumptions and other adjustments	(2,090)	(191)
Interest accretion	534	98
Cash payments	(4,041)	(1,692)
Balance-end of period	$ 49,773	$ 43,402

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 03, 2023	Mar. 04, 2023
Other Financial Instruments
Held to maturity investments	$ 4,640	$ 7,457
Level 1
Other Financial Instruments
Carrying value of total long-term indebtedness	3,327,970	2,925,258
Estimated fair value of total long-term indebtedness	$ 2,676,269	$ 2,368,328

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022	Mar. 04, 2023
Income Taxes
Income tax expense	$ 1,493	$ 3,497
Overall tax rate impact percent	(0.50%)	(3.30%)
Valuation allowance to offset the current year deferred state tax benefits (as a percent)	(27.60%)	(37.60%)
Decrease in unrecognized tax benefits related to state exposures	$ 4,001
Valuation allowance against net deferred tax assets	$ 1,733,294		$ 1,649,193

Medicare Part D (Details)

Medicare Part D (Details) $ in Thousands					3 Months Ended
	Feb. 03, 2023 USD ($)	Oct. 13, 2022 USD ($)	Jan. 24, 2022 USD ($)	Aug. 12, 2021 USD ($)	Jun. 03, 2023 USD ($) individual item	Mar. 04, 2023 USD ($)	Nov. 26, 2022 USD ($)	May 28, 2022 USD ($)	Feb. 26, 2022 USD ($)	Aug. 28, 2021 USD ($)	Mar. 31, 2023 USD ($)
Statutory Accounting Practices [Line Items]
Accounts receivable, net					$ 1,392,348	$ 1,149,958
Medicare Part D
Remaining receivable for receivables sold to third party					32,697	32,697
Loss (gain) on sale of assets, net					(8,193)			$ (29,196)
Goodwill, impairment charges					151,500
August 2021 Receivable Purchase Agreement
Medicare Part D
Amount of receivables sold under Receivable Purchase Agreement				$ 271,829
Sale price for receivables sold				258,116
Receipts from sale of receivables				$ 239,360
Loss (gain) on sale of assets, net										$ 13,713
October 2022 Receivable Purchase Agreement
Statutory Accounting Practices [Line Items]
Accounts receivable, net					13,488
Medicare Part D
Amount of receivables sold under Receivable Purchase Agreement		$ 195,487
Sale price for receivables sold		180,405
Receipts from sale of receivables		$ 166,917
Loss on sale of receivable							$ 1,937
Loss (gain) on sale of assets, net							$ 15,082
January 2022 Receivable Purchase Agreement
Medicare Part D
Amount of receivables sold under Receivable Purchase Agreement			$ 400,680
Sale price for receivables sold			387,035
Receipts from sale of receivables			$ 359,388
Loss (gain) on sale of assets, net									$ 13,645
February 2023 Receivable Purchase Agreement
Statutory Accounting Practices [Line Items]
Accounts receivable, net					19,209
Medicare Part D
Amount of receivables sold under Receivable Purchase Agreement	$ 278,390
Sale price for receivables sold	261,771
Receipts from sale of receivables	$ 242,562
Loss (gain) on sale of assets, net						16,619
Most Current Receivable Purchase Agreement
Medicare Part D
Loss on sale of receivable						2,573
EI (Elixir Insurance)
Statutory Accounting Practices [Line Items]
Minimum amount of capital and surplus required by regulatory requirements											$ 5,249
Accounts receivable, net					$ 136,070	$ 45,201
Medicare Part D
Number of markets | item					11
Number of individual members | individual					274,000

Manufacturer Rebates Receivab_2

Manufacturer Rebates Receivables (Details) - Pharmacy Services Segment - USD ($) $ in Thousands	Jun. 03, 2023	Mar. 04, 2023
Manufacturer Rebates Receivables
Manufacturer rebates receivables	$ 417,746	$ 357,699
Manufacturers Rebates Receivables
Manufacturer Rebates Receivables
Allowance for uncollectible accounts	$ 11,025	$ 8,680

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	Mar. 04, 2023
Goodwill, impairment charges	$ 151,500
Pharmacy Services Segment
Accumulated impairment losses	1,326,412	$ 1,174,912
Goodwill, impairment charges	$ 151,500

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Goodwill (Details) $ in Thousands	3 Months Ended
	Jun. 03, 2023 USD ($)
Carrying amount of goodwill
Beginning Balance	$ 507,936
Goodwill impairment	(151,500)
Ending Balance	356,436
Retail Pharmacy Segment
Carrying amount of goodwill
Beginning Balance	43,492
Ending Balance	43,492
Pharmacy Services Segment
Carrying amount of goodwill
Beginning Balance	464,444
Goodwill impairment	(151,500)
Ending Balance	$ 312,944

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Intangibles (Details) - USD ($) $ in Thousands	Jun. 03, 2023	Mar. 04, 2023
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Finite	$ 1,745,239	$ 1,736,069
Total Accumulated Amortization, Finite	(1,514,756)	(1,500,357)
Total Net, finite	230,483	235,712
Gross Carrying Amount, Total	1,759,639	1,750,469
Net, Total	244,883	250,112
Trademarks
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Indefinite Lived	14,400	14,400
Noncompete agreements and other
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Finite	205,249	201,919
Total Accumulated Amortization, Finite	(184,911)	(182,957)
Total Net, finite	$ 20,338	$ 18,962
Remaining Weighted Average Amortization Period	3 years	3 years
Prescription files
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Finite	$ 1,035,505	$ 1,029,665
Total Accumulated Amortization, Finite	(934,114)	(928,478)
Total Net, finite	$ 101,391	$ 101,187
Remaining Weighted Average Amortization Period	5 years	5 years
Customer relationships
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Finite	$ 388,000	$ 388,000
Total Accumulated Amortization, Finite	(310,842)	(306,139)
Total Net, finite	$ 77,158	$ 81,861
Remaining Weighted Average Amortization Period	8 years	9 years
CMS license
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Finite	$ 57,500	$ 57,500
Total Accumulated Amortization, Finite	(25,904)	(23,798)
Total Net, finite	$ 31,596	$ 33,702
Remaining Weighted Average Amortization Period	3 years	4 years
Claims adjudication and other developed software
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Finite	$ 58,985	$ 58,985
Total Accumulated Amortization, Finite	$ (58,985)	$ (58,985)
Remaining Weighted Average Amortization Period	0 years	0 years

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Unfavorable lease intangibles and amortization expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Goodwill and Other Intangible Assets
Amortization expense for intangible assets and liabilities	$ 17,133	$ 20,626
Anticipated annual amortization expense for intangible assets and liabilities
2024	63,486
2025	52,554
2026	42,028
2027	35,018
2028	$ 27,538

Indebtedness and Credit Agree_3

Indebtedness and Credit Agreement - Indebtedness and lease financing obligations (Details) - USD ($) $ in Thousands	Jun. 03, 2023	Mar. 04, 2023	Jun. 13, 2022
Indebtedness and credit agreements
Lease financing obligations	$ 18,211	$ 18,912
Total debt	3,346,181	2,944,170
Current maturities of long-term debt and lease financing obligations	(6,060)	(6,332)
Long-term debt and lease financing obligations, less current maturities	3,340,121	2,937,838
Senior Secured Debt
Indebtedness and credit agreements
Long-term debt	1,983,438	1,581,793
FILO term loan due August 2026
Indebtedness and credit agreements
Long-term debt	398,064	397,910
Principal amount of debt	400,000	400,000
Unamortized debt issuance costs	1,936	2,090
Senior secured revolving credit facility due August 2026
Indebtedness and credit agreements
Long-term debt	1,585,374	1,183,883
Principal amount of debt	1,600,000	1,200,000
Unamortized debt issuance costs	14,626	16,117
Second Lien Secured Debt
Indebtedness and credit agreements
Long-term debt	1,157,174	1,156,132
7.5% senior secured notes due July 2025
Indebtedness and credit agreements
Long-term debt	$ 317,745	$ 317,473
Debt instrument, stated interest rate (as a percent)	7.50%	7.50%	7.50%
Principal amount of debt	$ 320,002	$ 320,002
Unamortized debt issuance costs	2,257	2,529
8.0% senior secured notes due November 2026
Indebtedness and credit agreements
Long-term debt	$ 839,429	$ 838,659
Debt instrument, stated interest rate (as a percent)	8%	8%	8%
Principal amount of debt	$ 849,918	$ 849,918
Unamortized debt issuance costs	10,489	11,259
Unguaranteed Unsecured Debt
Indebtedness and credit agreements
Long-term debt	187,358	187,333
7.7% notes due February 2027
Indebtedness and credit agreements
Long-term debt	$ 185,318	$ 185,293
Debt instrument, stated interest rate (as a percent)	7.70%	7.70%	7.70%
Principal amount of debt	$ 185,691	$ 185,691
Unamortized debt issuance costs	373	398
6.875% fixed-rate senior notes due December 2028
Indebtedness and credit agreements
Long-term debt	$ 2,040	$ 2,040
Debt instrument, stated interest rate (as a percent)	6.875%	6.875%	6.875%
Principal amount of debt	$ 2,046	$ 2,046
Unamortized debt issuance costs	$ 6	$ 6

Indebtedness and Credit Agree_4

Indebtedness and Credit Agreement - Credit Facility (Details) - USD ($) $ in Thousands				3 Months Ended
	Dec. 01, 2022	Jun. 13, 2022	Aug. 20, 2021	Jun. 03, 2023	Mar. 04, 2023	Dec. 20, 2018
Credit facility
Gain (loss) on debt modifications and retirements, net		$ 41,312
Rite Aid Lease Management Company
Credit facility
Ownership interest (as a percent)				100%
Senior secured credit facility
Credit facility
Gain (loss) on debt modifications and retirements, net	$ 100,000				$ (148)
Senior secured revolving credit facility due December 2023
Credit facility
Maximum borrowing capacity						$ 2,700,000
FILO term loan due December 2023
Credit facility
Maximum borrowing capacity						450,000
FILO term loan due August 2026
Credit facility
Maximum borrowing capacity	$ 400,000		$ 350,000
Principal amount of debt				$ 400,000	400,000
FILO term loan due August 2026 | Maximum
Credit facility
Threshold availability on the third consecutive business day				257,500
FILO term loan due August 2026 | LIBOR
Credit facility
Percentage points added to the reference rate			2.75%
FILO term loan due August 2026 | Citibank's base rate
Credit facility
Percentage points added to the reference rate	2%		1.75%
FILO term loan due August 2026 | SOFR
Credit facility
Percentage points added to the reference rate	3%
Senior secured revolving credit facility due August 2026
Credit facility
Maximum borrowing capacity	$ 2,850,000		$ 2,800,000
Principal amount of debt				1,600,000	$ 1,200,000
Period triggering springing maturity	91 days
Outstanding borrowings				2,000,000
Letters of credit outstanding				208,198
Additional borrowing capacity				1,041,802
Maximum amount of accumulated cash on hand				200,000
Amount of debt allowed to be outstanding				1,500,000
Cash sweep, 3-day minimum threshold				283,250
Cash sweep, 1-day minimum threshold				206,000
Threshold amount of debt				$ 750,000
Number of days relating to debt threshold				90 days
Minimum principal balance for which non-payment causes default				$ 50,000
Senior secured revolving credit facility due August 2026 | Minimum
Credit facility
Credit facility commitment fee (as a percent)	0.25%
Additional borrowing capacity				$ 375,950
Fixed charge coverage ratio				1
Threshold availability on thirtieth consecutive day				$ 257,500
Senior secured revolving credit facility due August 2026 | Maximum
Credit facility
Credit facility commitment fee (as a percent)	0.375%
Threshold availability on revolving credit facility to trigger fixed charge coverage requirements				$ 206,000
Senior secured revolving credit facility due August 2026 | LIBOR | Minimum
Credit facility
Percentage points added to the reference rate			1.25%
Senior secured revolving credit facility due August 2026 | LIBOR | Maximum
Credit facility
Percentage points added to the reference rate			1.75%
Senior secured revolving credit facility due August 2026 | Citibank's base rate | Minimum
Credit facility
Percentage points added to the reference rate			0.25%
Senior secured revolving credit facility due August 2026 | Citibank's base rate | Maximum
Credit facility
Percentage points added to the reference rate			0.75%
Senior secured revolving credit facility due January 2020
Credit facility
Maximum borrowing capacity						$ 2,700,000

Indebtedness and Credit Agree_5

Indebtedness and Credit Agreement - Transactions and Maturity (Details) - USD ($) $ in Thousands				3 Months Ended
	Dec. 09, 2022	Dec. 01, 2022	Jun. 13, 2022	Mar. 04, 2023	Jun. 03, 2023	Nov. 30, 2022	Nov. 03, 2022	Jun. 29, 2022	Aug. 20, 2021
Indebtedness and credit agreements
Gain (loss) on debt modifications and retirements, net			$ 41,312
Maturities
2024					$ 0
2025					0
2026					320,002
2027					3,035,609
2028					0
thereafter					$ 2,046
6.875% fixed-rate senior notes due December 2028
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)			6.875%	6.875%	6.875%
Face amount of debt repurchased								$ 26,955
7.7% notes due February 2027
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)			7.70%	7.70%	7.70%
Face amount of debt repurchased								51,695
7.5% senior secured notes due July 2025
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)			7.50%	7.50%	7.50%
Debt instrument, subcap amount			$ 100,000
Gain (loss) on debt modifications and retirements, net	$ 38,978
Face amount of debt repurchased	$ 4,559		$ 150,000			$ 160,497	$ 200,000	$ 114,942
7.70% senior secured notes due 2027
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)			7.70%
6.875% senior secured notes due 2028
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)			6.875%
8.0% senior secured notes due November 2026
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)			8%	8%	8%
Senior secured credit facility
Indebtedness and credit agreements
Gain (loss) on debt modifications and retirements, net		$ 100,000		$ (148)
FILO term loan due August 2026
Indebtedness and credit agreements
Maximum borrowing capacity		400,000							$ 350,000
Senior secured revolving credit facility due August 2026
Indebtedness and credit agreements
Maximum borrowing capacity		$ 2,850,000							$ 2,800,000

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Property, Plant and Equipment [Line Items]
Operating lease cost	$ 152,672	$ 159,845
Financing lease cost:
Amortization of right-of-use asset	819	809
Interest on long-term finance lease liabilities	467	501
Total finance lease costs	1,286	1,310
Short-term lease costs	(776)	457
Variable lease costs	46,233	42,645
Less: sublease income	(2,737)	(3,223)
Net lease cost	$ 196,678	$ 201,034
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Initial terms of noncancellable operating leases	5 years
Initial terms of noncancellable finance leases	5 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Initial terms of noncancellable operating leases	22 years
Initial terms of noncancellable finance leases	22 years
Equipment | Minimum
Property, Plant and Equipment [Line Items]
Initial terms of noncancellable operating leases	3 years
Equipment | Maximum
Property, Plant and Equipment [Line Items]
Initial terms of noncancellable operating leases	10 years

Leases - Supplemental cash flow

Leases - Supplemental cash flow information related to leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$ 160,367	$ 175,414
Operating cash flows paid for interest portion of finance leases	467	501
Financing cash flows paid for principal portion of finance leases	996	945
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 77,412	$ 57,986

Leases - Supplemental BS Inform

Leases - Supplemental BS Information (Details) - USD ($) $ in Thousands	Jun. 03, 2023	Mar. 04, 2023
Operating leases:
Operating lease right-of-use assets	$ 2,457,110	$ 2,497,206
Short-term operating lease liabilities	488,712	502,403
Long-term operating lease liabilities	2,345,277	2,372,943
Total operating lease liabilities	2,833,989	2,875,346
Finance leases:
Property, plant and equipment, net	892,540	907,771
Current maturities of long-term debt and lease financing obligations	$ 6,060	$ 6,332
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Long-term Debt and Capital Lease Obligations, Current	Long-term Debt and Capital Lease Obligations, Current
Lease financing obligations, less current maturities	$ 12,151	$ 12,580
Total finance lease liabilities	$ 18,211	$ 18,912
Weighted average remaining lease term
Operating leases (in years)	7 years 4 months 24 days	7 years 6 months
Finance leases (in years)	8 years 3 months 18 days	8 years
Weighted average discount rate
Operating leases (as a percent)	7%	6.50%
Finance leases (as a percent)	10.60%	9%
Finance Leased Assets
Finance leases:
Property, plant and equipment, net	$ 13,064	$ 13,576

Leases - Maturity of lease liab

Leases - Maturity of lease liabilities under finance and operating leases (Details) - USD ($) $ in Thousands	Jun. 03, 2023	Mar. 04, 2023
Finance Leases, ASC842
2024 (remaining thirty-nine weeks)	$ 6,506
2025	4,003
2026	2,198
2027	1,500
2028	1,500
Thereafter	10,548
Total lease payments	26,255
Less: imputed interest	(8,044)
Total finance lease liabilities	18,211	$ 18,912
Operating Leases, ASC842
2024 (remaining thirty-nine weeks)	502,374
2025	602,909
2026	479,513
2027	446,677
2028	373,347
Thereafter	1,211,362
Total lease payments	3,616,182
Less: imputed interest	(782,193)
Total operating lease liabilities	2,833,989	$ 2,875,346
Minimum sublease rentals	22,000
Operating and finance leases, ASC842
2024 (remaining thirty-nine weeks)	508,880
2025	606,912
2026	481,711
2027	448,177
2028	374,847
Thereafter	1,221,910
Total lease payments	3,642,437
Less: imputed interest	(790,237)
Total lease liabilities	$ 2,852,200

Retirement Plans - Net periodic

Retirement Plans - Net periodic cost (Details) - Defined Benefit Pension Plan - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Net periodic pension expense
Service cost	$ 73	$ 107
Interest cost	1,581	1,264
Expected return on plan assets	(1,474)	(1,402)
Net periodic pension expense	$ 180	$ (31)

Segment Reporting - Balance She

Segment Reporting - Balance Sheet information (Details) $ in Thousands	3 Months Ended
	Jun. 03, 2023 USD ($) segment	Mar. 04, 2023 USD ($)
Segment Reporting
Number of reportable segments | segment	2
Total Assets	$ 7,650,418	$ 7,527,362
Goodwill	356,436	507,936
Accounts receivable	1,392,348	1,149,958
Retail Pharmacy Segment
Segment Reporting
Goodwill	43,492	43,492
Pharmacy Services Segment
Segment Reporting
Goodwill	312,944	464,444
Operating Segments | Retail Pharmacy Segment
Segment Reporting
Total Assets	5,762,566	5,487,845
Goodwill	43,492	43,492
Operating Segments | Pharmacy Services Segment
Segment Reporting
Total Assets	1,897,726	2,049,107
Goodwill	312,944	464,444
Intersegment elimination
Segment Reporting
Total Assets	(9,874)	(9,590)
Accounts receivable	$ 9,874	$ 9,590

Segment Reporting - Revenues (D

Segment Reporting - Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Segment Reporting
Revenues	$ 5,653,162	$ 6,014,583
Gross Profit	1,178,526	1,196,729
Adjusted EBITDA	91,715	100,130
Depreciation and amortization	65,895	70,073
LIFO charge	7,500
Stock-based compensation expense	1,081	3,334
Additions to property and equipment and intangible assets	47,503	85,424
Retail Pharmacy Segment
Segment Reporting
Revenues	4,492,329	4,345,356
Operating Segments | Retail Pharmacy Segment
Segment Reporting
Revenues	4,492,329	4,345,356
Gross Profit	1,086,863	1,097,357
Adjusted EBITDA	70,049	73,682
Depreciation and amortization	55,469	56,108
LIFO charge	7,500
Stock-based compensation expense	723	3,102
Additions to property and equipment and intangible assets	40,439	78,551
Operating Segments | Pharmacy Services Segment
Segment Reporting
Revenues	1,196,154	1,725,857
Gross Profit	91,663	99,372
Adjusted EBITDA	21,666	26,448
Depreciation and amortization	10,426	13,965
Stock-based compensation expense	358	232
Additions to property and equipment and intangible assets	7,064	6,873
Intersegment elimination
Segment Reporting
Revenues	$ (35,321)	$ (56,630)

Segment Reporting - Adjusted EB

Segment Reporting - Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Segment Reporting
Net loss	$ (306,718)	$ (110,191)
Interest expense	65,220	48,119
Income tax expense	1,493	3,497
Depreciation and amortization	65,895	70,073
LIFO charge	7,500
Facility exit and impairment charges	20,001	66,571
Goodwill and intangible asset impairment charges	151,500
Stock-based compensation expense	1,081	3,334
Restructuring-related costs	78,130	22,646
Inventory write-downs related to store closings	2,057	7,955
Litigation and other contractual settlements	11,050	18,271
Gain on sale of assets, net	(8,193)	(29,196)
Other	2,699	(949)
Adjusted EBITDA	$ 91,715	$ 100,130

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees (Details) $ in Thousands		1 Months Ended		3 Months Ended
	Apr. 22, 2022 USD ($)	Dec. 31, 2022 USD ($)	Aug. 31, 2022 USD ($)	Jun. 03, 2023 lawsuit state
California Employment Litigation Claims Related To Reimbursement For Cell phone and Mileage Expenses
Commitments, Contingencies and Guarantees
Amount awarded to other party			$ 1,290
California Employment Litigation Claims Related To Wages And Hour Class Action
Commitments, Contingencies and Guarantees
Amount awarded to other party			$ 800
New York Employment Litigation Claims Related To Wages And Hour Class Action
Commitments, Contingencies and Guarantees
Amount awarded to other party		$ 6,450
Blue Cross Blue Shield Litigation
Commitments, Contingencies and Guarantees
Number of claims | lawsuit				2
Number of states in which operated | state				8
Humana Litigation
Commitments, Contingencies and Guarantees
Amount awarded to other party	$ 122,600
Prejudgment interest awarded	$ 40,700

Supplementary Cash Flow Data (D

Supplementary Cash Flow Data (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 03, 2023	May 28, 2022
Supplementary Cash Flow Data
Cash paid for interest	$ 34,452	$ 11,230
Cash payments for income taxes, net	1,006	13,290
Equipment financed under capital leases	321
Gross borrowings from revolver	829,000	860,000
Gross repayments to revolver	429,000	569,000
Significant components of cash provided by (used in) Other Liabilities (Other Assets)
Other Liabilities	51,385	15,327
Other Assets	$ (64,687)	$ 751