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Rite Aid to close 200 Stores: The Pennsylvania-based retail chain, which has 2,681 drugstores, said it will also sell its auto parts, book and dry cleaning outlets and buy back 22 million shares of stock. The actions will prompt a charge against earnings of $149.2 million, the company said. Rite Aid earned $23 million during the same quarter in 1992. Sales were $1.08 billion, up from $1.01. Like other drugstore chains, Rite Aid has been buffeted by health care cost-containment efforts in the private and public sectors, said analysts, who generally approved of the restructuring plan.
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