CVS Pharmacy will close 900 stores over the next three years, the company announced Thursday as part of an effort to reduce store density.
The chain, a national one-stop shop for prescriptions, toiletries, over-the-counter medications and snacks, has also in the last year become a major provider of COVID-19 vaccines.
Beginning in 2022, the pharmacy will close 300 stores a year through 2024. The 900 stores set to be shuttered currently represent almost 10% of all CVS locations, according to company figures.
In a statement, CVS said that the company “has been evaluating changes in population, consumer buying patterns and future health needs to ensure it has the right kinds of stores in the right locations for consumers and for the business.”
CVS also intends to create two new store formats, one offering primary care services and another “enhanced” version of its HealthHUB locations, which provide services such as vaccinations.
The company said it was committed to offering workers at closed locations roles at different stores.
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