CVS Is Permanently Closing Hundreds of Stores for a Surprising Reason
September 25, 2023
As the pandemic’s impact on brick-and-mortar retail lingers, the U.S. drugstore landscape is undergoing significant changes. CVS, the largest drugstore chain in America, is implementing a policy change that will lead to the closure of hundreds of stores over the next three years, aiming to optimize store locations based on population shifts and consumer buying patterns. This move comes in the wake of industry-wide consolidation efforts, with Rite Aid considering Chapter 11 bankruptcy and Walgreens planning to close up to 450 stores in the U.S. and U.K. to streamline operations.
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