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Rite Aid gets a boost after Amazon announces customers will be able to pick up packages at the drugstore (RAD)

Rite Aid gets a boost after Amazon announces customers will be able to pick up packages at the drugstore (RAD)
Reuters/Noah Berger



Amazon launched a package pickup service in Rite Aid stores Thursday.




Rite Aid shares gained as much as 8% on the news. By the end of the year, the service will be rolled out to 1,500 locations.




The partnership will help increase Rite Aid traffic and boost Amazon's brick and mortar presence.




Watch Rite Aid trade live on Markets Insider.




Being linked to Amazon is giving Rite Aid drugstores a shot of momentum.
Shares of the retailer climbed as much as 8% Thursday on the news that it inked a deal to be a pickup location as part of Amazon's new service called "Counter." Shoppers will be able to pick up their Amazon packages at more than 1,500 Rite Aid locations by the end of the year, according to a release.
The drugstore is the latest retailer to be added to Amazon's growing network of pickup locations. The online retail giant already has programs in place with Kohl's and Best Buy where consumers can purchase and return Amazon products such as the Fire TV in stores.
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