Nov. 18, 2021 (Gephardt Daily) — CVS Health is closing 900 stores over the next three years in response to the changing of “consumer buying patterns,” the company said Thursday.
The drug store chain said in a news release 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; it is not clear how many Utah stores will close. Affected employees will be offered jobs at nearby locations.
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, the news release said.
“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,” said CVS CEO Karen Lynch.
The closures will cost the company about $1 billion dollars in the fourth quarter of 2021.
