It happened around 11 p.m. Friday night in the 200 block of West Lehigh Avenue.
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Police responded to calls for a person with a weapon and a stabbing.
When the officers arrived on scene, they found a 34-year-old woman suffering from stab wounds lying on the floor of the Rite Aid.
The woman was taken to Temple University Hospital where she later succumbed to her injuries.
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Police have the suspect in custody and have recovered the knife used in the homicide.
No other injuries were reported.
This is an ongoing investigation with the Philadelphia Police Homicide Unit.