"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links."
Your local CVS may be closing its doors for good.
The drugstore chain is in the process of shuttering "roughly 300" locations across the country in 2024, a spokesperson confirmed to Good Housekeeping. That includes the dozens of pharmacies in Target stores.
Within the last year, the company has also cut about 5,000 jobs, per The Wall Street Journal. The newspaper reported that when it spoke to a CVS spokesperson, they said the effort to pare down has been made “based on [the company’s] evaluation of changes in population, consumer buying patterns and future health needs."
In 2021, USA Today reported that CVS announced a plan to close nearly 900 stores from 2022 to 2024, with the goal of about 300 per year. At the time, T.J, Crawford, a CVS spokesperson, told the outlet that decisions regarding which locations were to close would be based on "local market dynamics, population shifts and store density" as well as "ensuring Aetna and Caremark coverage and the needs of underserved communities."
So while we knew it was coming, it's still a bit of shock for avid CVS shoppers, especially as other drugstore chains have been seen massive closures as well. Both Walgreens and Rite-Aid have made efforts to reduce their retail presence as consumer shopping habits trend more towards online shopping instead of in person.
Rite-Aid filed for bankruptcy in July, and closed nearly 74 stores this year. Walgreens CEO Tim Wentworth also announced earlier this year that the retailer is set to close a slew of underperforming stores by the end of 2027.
CVS would not confirm the exact locations that will close.
You Might Also Like