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HomeTrading NewsCVS to close about 900 stores over next three years, as it shifts to digital strategy

CVS to close about 900 stores over next three years, as it shifts to digital strategy

People walk by a CVS Pharmacy store in the Manhattan borough of New York City.

Shannon Stapleton | Reuters

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.

The drugstore chain and health-care 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 medical 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’ approximately 10,000 U.S. stores.

This story is developing. Please check back for updates.

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