CVS To Close , 900 Stores.
On Nov. 18, CVS Health announced it is shuttering 900 stores over the next three years.
On Nov. 18, CVS Health announced it is shuttering 900 stores over the next three years.
The move is to make sure it has the "right kinds of stores in the right locations for consumers and for the business" amid changing "consumer buying patterns.".
The move is to make sure it has the "right kinds of stores in the right locations for consumers and for the business" amid changing "consumer buying patterns.".
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, Karen Lynch, CVS CEO, via statement.
CNN reports the closures
will cost CVS about $1 billion.
According to Neil Saunders, managing director of GlobalData, the move is a result of the drug store chain having "too many overlapping locations.".
Too many stores are stuck in the past with bad lighting, depressing interiors, messy merchandising, and a weak assortment of products. They are not destinations or places where people go out of anything other than necessity, Neil Saunders, managing director of GlobalData, via CNN.
Too many stores are stuck in the past with bad lighting, depressing interiors, messy merchandising, and a weak assortment of products. They are not destinations or places where people go out of anything other than necessity, Neil Saunders, managing director of GlobalData, via CNN.
CNN reports CVS intends
to remodel some of its
stores to feature more
health services