PROSPECTUS SUPPLEMENT NO. 7                FILED PURSUANT TO RULE 424(B)(3)
 (TO PROSPECTUS DATED JANUARY 2, 1998) 
  
  
                                $650,000,000 
                            RITE AID CORPORATION 
                    5.25% Convertible Subordinated Notes 
                           due September 15, 2002 
                                                   
  
      This Prospectus Supplement No. 7 supplements and amends the Prospectus
 dated January 2, 1998, as amended by Prospectus Supplement No. 1 dated
 February 9, 1998, Prospectus Supplement No. 2 dated March 16, 1998,
 Prospectus Supplement No. 3 dated April 16, 1998, Prospectus Supplement No.
 4 dated May 27, 1998, Prospectus Supplement No. 5 dated May 29, 1998 and
 Prospectus Supplement No. 6 dated June 30, 1998 (the "Prospectus") relating
 to the 5.25% Convertible Subordinated Notes due September 15, 2002 (the
 "Notes") of Rite Aid Corporation, a Delaware corporation (the "Company")
 and the shares of common stock, par value $1.00 per share (the "Company
 Common Stock"), of the Company, issuable upon conversion of the Notes. 
  
      The table on pages 20 through 23  of the Prospectus, which set forth
 information with respect to the Selling Holders (as defined in the
 Prospectus) and the respective amounts of Notes beneficially owned by each
 Selling Holder that may be offered pursuant to the Prospectus is hereby
 amended as follows: 
  
      The deletion on page 20 of the Prospectus of: 
  
           "Lord Abbott Bond Debenture Fund, Inc.. . . . . . .  10,000,000" 
            
 and the substitution therefor of: 
  
           "Lord Abbett Bond Debenture Fund  . . . . . . . . .  17,500,000" 
            
      The deletion on page 23 of the Prospectus of: 
  
           "Credit Suisse First Boston Corporation . . . . . .   1,000,000" 
           "Any Other Holder of Notes or Future
              Transferee from any Such Holder  . . . . . . . . 111,336,000" 
  
 and the substitution therefor of the following: 
  
           "Credit Suisse First Boston Corporation . . . . . .   1,400,000" 
           "Boston Safe Deposit & Trust Company  . . . . . . .   4,000,000" 
           "Deutsche Bank Securities Inc.  . . . . . . . . . .   1,380,000" 
           "ILA Annuity & Insurance  . . . . . . . . . . . . .  17,000,000" 
           "Any Other Holder of Notes or Future
              Transferee from any Such Holder  . . . . . . . .  81,056,000" 
  
      The Prospectus, together with this Prospectus Supplement No. 7,
 constitutes the prospectus required to be delivered by Section 5(b) of the
 Securities Act of 1933, as amended, with respect to offers and sales of the
 Notes and the Company Common Stock issuable upon conversion of the Notes. 
 All references in the Prospectus to "this Prospectus" are hereby amended to
 read "this Prospectus (as supplemented and amended)." 
  
 THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES
 AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE
 SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION
 PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS.  ANY
 REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. 
  





 The date of this Prospectus Supplement is July 30, 1998.