https://www.cnn.com/2021/11/18/inves...res/index.html
New York (CNN Business)CVS Health is closing 900 stores over the next three years, amounting to nearly 10% of its footprint, in response to the changing of "consumer buying patterns."
The drug store chain said Thursday that the closures will result in a retail presence that ensures it has the "right kinds of stores in the right locations for consumers and for the business." A list of locations shutting down, which will happen beginning next spring, was not immediately released.
The closures are part of broader realignment of its retail strategy of its roughly 10,000 locations. That includes remodeling some stores to include more health services, such as primary care, and an "enhanced version" of its HealthHub layout.
Part of their strategy also includes creating “new store formats” which means the remaining stores will be adjusted into three types: sites that are dedicated to offering primary care services, an enhanced version of HealthHUB locations, and the traditional CVS Pharmacy store.
Walgreens also has announced multiple store closures, with at least five in San Francisco. However, the company said it’s due to concerns over “ongoing organized retail crime” in the city.
San Francisco leaders quickly refuted that claim, believing that the local closures were related to Walgreens’ broader plan to close about 200 locations nationwide.