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) June 24, 2004 (May 29, 2004)


                              RITE AID CORPORATION
 ------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)




  Delaware                            1-5742                23-1614034
------------------------------------------------------------------------------
(State or Other Jurisdiction        (Commission            (IRS Employer
      of Incorporation              File Number)         Identification No.)


30 Hunter Lane, Camp Hill, Pennsylvania                        17011
------------------------------------------------------------------------------
(Address of Principal Executive Offices)                     (Zip Code)


Registrant's telephone number, including area code         (717) 761-2633
                                                       -----------------------


                                      None
 ------------------------------------------------------------------------------
         (Former Name or Former Address, if Changed Since Last Report)


<PAGE>


Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(c) Exhibits.

99.1 Registrant's Press Release, dated June 24, 2004.

Item 12.   Results of Operations and Financial Condition.

On June 24, 2004, we announced our financial position and results of operations
as of and for our first quarter, ended May 29, 2004. The press release is
attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The announcement includes a non-GAAP financial measure, "Adjusted EBITDA."

Adjusted EBITDA represents net income (loss) from operations excluding the
impact of income taxes, interest expense, depreciation and amortization, LIFO
adjustments, charges or credits for store closing and impairment, inventory
write-downs related to closed stores, stock-based compensation expense, debt
modifications and retirements, litigation proceeds, litigation expense, expense
of the defense against litigation related to prior managements' business
practices, the defense of prior management and transaction consultation, sales
of assets and investments, and non-recurring items. We reference this non-GAAP
financial measure frequently in our decision-making because it provides
supplemental information that facilitates internal comparisons to historical
operating performance of prior periods and external comparisons to competitors'
historical operating performance. In addition, incentive compensation is based
on Adjusted EBITDA and we base our forward-looking estimates on Adjusted EBITDA
to facilitate quantification of planned business activities and enhance
subsequent follow-up with comparisons of actual to planned Adjusted EBITDA. We
include this non-GAAP financial measure in our earnings announcement in order
to provide transparency to investors and enable investors to compare our
operating performance with the operating performance of our competitors.

The information furnished pursuant to this Current Report on Form 8-K
(including the exhibit hereto) shall not be considered "filed" under the
Securities Exchange Act of 1934, as amended, nor shall it be incorporated by
reference into future filings by the Company under the Securities Act of 1933,
as amended or under the Securities Exchange Act of 1934, as amended, unless the
Company expressly sets forth in such future filing that such information is to
be considered "filed" or incorporated by reference therein.

<PAGE>


                                   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



Dated: June 24, 2004                  By:  /s/Robert B. Sari
                                          ________________________________
                                          Name:  Robert B. Sari
                                          Title: Senior Vice President,
                                                 General Counsel and Secretary


<PAGE>


                                 EXHIBIT INDEX



Exhibit No.       Description

 99.1             Registrant's Press Release dated June 24, 2004.
[{"type": "8-K", "sequence": "1", "filename": "s875581.txt", "secsgml_size_bytes": 4688}]
{"company-data": {"conformed-name": "RITE AID CORP", "cik": "0000084129", "assigned-sic": "5912", "irs-number": "231614034", "state-of-incorporation": "DE", "fiscal-year-end": "0302"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-05742", "film-number": "04878495"}, "business-address": {"street1": "30 HUNTER LANE", "city": "CAMP HILL OWN", "state": "PA", "zip": "17011", "phone": "7177612633"}, "mail-address": {"street1": "PO BOX 3165", "city": "HARRISBURG", "state": "PA", "zip": "17105"}, "former-company": [{"former-conformed-name": "RACK RITE DISTRIBUTORS", "date-changed": "19680510"}, {"former-conformed-name": "LEHRMAN LOUIS & CO", "date-changed": "19680510"}]}
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) June 24, 2004 (May 29, 2004)

                              RITE AID CORPORATION
 ------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

  Delaware                            1-5742                23-1614034
------------------------------------------------------------------------------
(State or Other Jurisdiction        (Commission            (IRS Employer
      of Incorporation              File Number)         Identification No.)

30 Hunter Lane, Camp Hill, Pennsylvania                        17011
------------------------------------------------------------------------------
(Address of Principal Executive Offices)                     (Zip Code)

Registrant's telephone number, including area code         (717) 761-2633
                                                       -----------------------

                                      None
 ------------------------------------------------------------------------------
         (Former Name or Former Address, if Changed Since Last Report)
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(c) Exhibits.

99.1 Registrant's Press Release, dated June 24, 2004.

Item 12.   Results of Operations and Financial Condition.

On June 24, 2004, we announced our financial position and results of operations
as of and for our first quarter, ended May 29, 2004. The press release is
attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The announcement includes a non-GAAP financial measure, "Adjusted EBITDA."

Adjusted EBITDA represents net income (loss) from operations excluding the
impact of income taxes, interest expense, depreciation and amortization, LIFO
adjustments, charges or credits for store closing and impairment, inventory
write-downs related to closed stores, stock-based compensation expense, debt
modifications and retirements, litigation proceeds, litigation expense, expense
of the defense against litigation related to prior managements' business
practices, the defense of prior management and transaction consultation, sales
of assets and investments, and non-recurring items. We reference this non-GAAP
financial measure frequently in our decision-making because it provides
supplemental information that facilitates internal comparisons to historical
operating performance of prior periods and external comparisons to competitors'
historical operating performance. In addition, incentive compensation is based
on Adjusted EBITDA and we base our forward-looking estimates on Adjusted EBITDA
to facilitate quantification of planned business activities and enhance
subsequent follow-up with comparisons of actual to planned Adjusted EBITDA. We
include this non-GAAP financial measure in our earnings announcement in order
to provide transparency to investors and enable investors to compare our
operating performance with the operating performance of our competitors.

The information furnished pursuant to this Current Report on Form 8-K
(including the exhibit hereto) shall not be considered "filed" under the
Securities Exchange Act of 1934, as amended, nor shall it be incorporated by
reference into future filings by the Company under the Securities Act of 1933,
as amended or under the Securities Exchange Act of 1934, as amended, unless the
Company expressly sets forth in such future filing that such information is to
be considered "filed" or incorporated by reference therein.
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

Dated: June 24, 2004                  By:  /s/Robert B. Sari
                                          ________________________________
                                          Name:  Robert B. Sari
                                          Title: Senior Vice President,
                                                 General Counsel and Secretary
EXHIBIT INDEX

Exhibit No.       Description

 99.1             Registrant's Press Release dated June 24, 2004.