900 CVS stores closing over the next few years as they shift to digital strategy
By Toby Friedman
CVS pharmacy has announced that it will be closing about 900 of its stores over the next three years. That is roughly 9% of CVS’ nearly 10,000 locations across the United States! The drugstore chain will start focusing more of its effort on online growth and turning its stores into healthcare locations. They will offer a range of health care services from flu shots to diagnostic tests. As people are getting prescriptions filled online they are ensuring that the drugstore stays in line with consumer habits and health needs.
"Our retail stores are fundamental to our strategy and who we are as a company," CEO Karen Lynch said in a news release. "We remain focused on the competitive advantage provided by our presence in thousands of communities across the country, which complements our rapidly expanding digital presence."
We don’t know how many employees will lose their jobs because of the closures, but CVS said it will help those who are impacted find a different opportunity or role in the company.
Store closures will begin in the spring of 2022 and the company has declined to share the specific locations of stores that will close.