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05/06/2019

CVS to close 46 store locations

CVS closes 46 underperforming locations

Woonsocket, R.I.-based CVS Pharmacy is shutting down 46 store locations, because they are “underperforming,” according to USA Today.

The cuts represent less than 1% of the company’s 9,600 stores, but will cost them approximately $135 million as a “store rationalization charge.”

CVS CEO Larry Merlo told USA Today in November that the company plans to reduce floor space dedicated to retail products and instead begin offering more health care services, such as the addition of  "hundreds" of teeth-alignment company SmileDirectClub's shops and HealthHubs within its stores.