CVS to Close 900 Stores Over the Next Three Years
CVS Health says it will close hundreds of drugstores over the next three years, as the retail giant adjusts to changing customer needs and converts to new store formats.
The company says it will close about 300 stores a year for the next three years as it looks to reduce store count density in some locations. It did not announce which locations will close.
The total of around 900 amounts to nearly a tenth of the roughly 10,000 retail locations CVS Health operates.
The company also sells insurance and runs prescription drug plans for big clients like insurers and employers.