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CVS Health
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CVS CLOSING SELECT TARGET PHARMACIES, WITH PLANS TO CLOSE 300 TOTAL STORES THIS
YEAR

Bailey Schulz
USA TODAY


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CVS is continuing to shutter storefronts in the new year and plans to close
select pharmacies inside Target locations in the coming months.

The closures are set to begin in February and should be completed by the end of
April. Spokesperson Amy Thibault did not address questions on how many stores
are set to close, but The Wall Street Journal reported that “dozens” would be
affected. 

The closures are part of CVS’ plan to shutter roughly 900 ‒ or 10% ‒ of its
stores. The pharmacy chain has closed about 600 stores since 2022 and expects to
close the remaining 300 this year. 




WHY IS CVS SHUTTERING PHARMACIES?

Thibault said the closures are part of CVS' plan to reduce store and pharmacy
density.

The closures "are based on our evaluation of changes in population, consumer
buying patterns and future health needs to ensure we have the right pharmacy
format in the right locations for patients," she said in an emailed statement. 



Other major pharmacy chains, including Rite Aid and Walgreens, have also been
shuttering stores amid rising competition, pressure on prescription profits and
waning foot traffic. (Rite Aid also faces pressure to cut costs as it faces a
slew of opioid lawsuits. The company filed for bankruptcy last year.)



Pharmacists at the three chains have staged walkouts in recent months to protest
deteriorating working conditions stemming from a lack of staff and resources.


WHICH CVS PHARMACIES ARE CLOSING?

Thibault declined to share a list of the affected locations. 

Prescription for disaster:America's broken pharmacy system in revolt over
burnout and errors


WHAT HAPPENS TO CVS EMPLOYEES?

Affected employees will be offered comparable roles within the company, Thibault
said. 




WHAT ABOUT THE CUSTOMERS?

Patient prescriptions will be transferred to a nearby CVS Pharmacy before the
closures.







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