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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 6, 1999
RITE AID CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-5742 23-1614034
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
30 Hunter Lane, Camp Hill, Pennsylvania 17011
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (717) 761-2633
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ITEM 4. Changes in Registrant's Certifying Accountant.
On December 6, 1999, the Registrant announced it had retained the
accounting firm of Deloitte & Touche LLP to audit and report on the
Registrant's restated consolidated balance sheets as of February 27, 1999 and
February 28, 1998 and the related restated consolidated statements of income,
stockholders' equity and cash flows for each of the years in the three-year
period ended February 27, 1999. Deloitte & Touche LLP will also audit the
Registrant's consolidated financial statements for the fiscal year ending
February 26, 2000. The Registrant's Board of Directors approved this action
upon the recommendation of its Audit Committee. Deloitte & Touche LLP undertook
the engagement with the understanding and in reliance upon the fact that the
Registrant, through the Audit Committee of its Board of Directors, has engaged
the law firm of Swidler Berlin Shereff Friedman, LLP of New York and Washington,
D.C., to conduct an independent investigation of certain matters, including
certain financial, accounting and reporting matters. Deloitte & Touche LLP has
advised the Registrant that it will not be able to complete its audits and,
accordingly, no reports will be issued by Deloitte & Touche LLP on any financial
statements for any period, until the Registrant has undertaken any necessary
remedial action recommended as a result of the investigation.
Neither during the period ended February 27, 1999 and through the date of
this filing nor during the Registrant's two most recent fiscal years did the
Registrant consult with Deloitte & Touche LLP regarding either the application
of accounting principles to a specified transaction, either completed or
proposed, or the type of audit opinion that might be rendered on the financial
statements of the Registrant. In addition, the Registrant did not consult with
Deloitte & Touche LLP regarding any matter that was the subject of a
disagreement or a reportable event within the meaning of Item 304 of the
Securities and Exchange Commission's Regulation S-K.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
RITE AID CORPORATION
Date: December 10, 1999 By: /s/ Elliot S. Gerson
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Name: Elliot S. Gerson
Title: Senior Executive Vice President,
Secretary and General Counsel
