Retail

To shut about 300 stores a year over next three years

0


CVS Health said Thursday that it will close about 900 stores over the next three years, as it adjusts to shoppers who are buying more online.

Its shares were up more than 2% midday Thursday.

The company announced in a news release that it will focus more of its efforts on digital growth and turning its stores into destinations that offer a range of health-care services, from flu shots to diagnostic tests.

Store closures will begin in spring 2022. The company said it plans to close about 300 per year. In total, the closures will add up to roughly 9% of CVS’ nearly 10,000 U.S. stores. The company declined to share the specific locations of stores that will shutter.

CVS did not say how many…



Source cnbc.com

0 0 votes
Article Rating

U.S. jobless claims little changed in potential sign that layoffs have hit a plateau

Previous article

Contrarian call suggests consumers are in trouble this holiday season

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Retail