America's Biggest Pharmacy Continues to Close Down Stores

At this point, it feels like store and restaurant chains closing loads of locations just doesn't shock us anymore.

Still, it's nice to be in the know. Even if you don't use the actual pharmacy, you probably still use the store itself.

It all comes down to supply and demand, as well as keeping up with the times and revamping. Location, location, location now plays an even bigger role since everything is available online now.

According to The Sun website, CVS is back in the news for more closures and new locations. Yes, the consumer giant is going two-fold with this.

CVS has been undergoing major restructuring since 2021. CVS has closed some 900 locations, with 270 more happening in total this year. Some employees are offered other locations to work, but for the most part, layoffs are part of the unfortunate side of this.

Last year, CVS laid off nearly 3,000 people, mostly corporate positions. What did these closings save the company? A whopping $2 billion.

That said, since 2021, CVS has opened 100 new locations. According to The Sun, foot traffic, overlapping stores, and population changes have all played a major role in the restructuring.

LEARN MORE: Fast Food Giant Is Fast-Tracking Its Revamp of Thousands of Stores

According to CVS, there are more than 9,000 pharmacies across America, which means that even after the additional closures and some new stores opening, 85% of people will still live within 10 miles of a CVS.

WHERE ARE THE CLOSURES AND OPENINGS HAPPENING

Transparency isn't a big part of these current closings and openings right now.

I remember stopping by a CVS Minute Clinic in the Boston area only to find out it had closed down without warning two days prior.

For now, we just know that some 270 CVS pharmacies will shutter this year while the company opens 30 new locations. Some of those new CVS stores will be inside Target stores.

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