Currently, both the Rite Aid and Target on Chestnut Street are not closing.
Not to be a Debbie Downer, but shoplifting is one of the biggest challenges retailers face. To be clear, it’s not the number 1 challenge, despite what executives claim on calls. Employee shrinkage is the biggest cause of revenue loss, but if a store isn’t making more than the expensive costs of operations, it makes sense to shut it down.
PA-headquartered Rite Aid is shutting down 15 stores in Philadelphia due to bankruptcy, but the one on Chestnut Street is not included. So if the veteran on that corner asks you for Tastykake, then you have no excuse not to get it for him because, let’s face it, he’s super nice and polite. The pharmacy tends to go through a lot of associates. However, that’s because it’s a very competitive field, and they can command whatever salary they want (we hear).
Also, can we talk about how amazing the building’s interior is?! That’s the best part of Philly – they keep beautiful historical details intact.
Target also announced it was closing some stores as well. However, the Chestnut Street one is NOT on that list. They closed the one in Washington Square West this year, so I’m relieved to hear that this location will stay open. They pack a lot into that small amount of real estate, and the prices are great.