CVS to close dozens of Target pharmacy locations
CVS Health Corp. plans to close dozens of its locations in Target discount stores as the drugstore chain grapples with rising costs in its pharmacy business.
A number of CVS’s 1,800 pharmacies in Target stores will be closed between February and April, a CVS spokesperson said, without specifying the exact count.
The closures are part of a plan to “realign our national retail footprint and reduce store and pharmacy density,” the spokesperson said.
The biggest U.S. drugstore chain, CVS has been cutting costs and warned investors back in August that rising expenses in its pharmacy and insurance businesses will take a toll on profit over the next two years. Last year, the chain also implemented a restructuring plan to streamline operations and reduce costs, which included eliminating 5,000 non-customer-facing positions.
Related Articles
Target, other major retailers will stop selling ‘water beads’ marketed to kids due to safety concerns
More Stories
Commercial or Domestic Bouncy Castle: Which to Buy for Hire
They can also carry the PIPA or ADIPS inspection paperwork that insurers and venues expect. A domestic bouncy castle costs...
10 Best Mobile Proxies for Social Media Management
Instagram, TikTok, and Facebook closely monitor IP signals, and a sudden cluster of profiles on one connection is a classic...
Asset finance for small businesses: how it works and the different types
Paying a large lump sum upfront is rarely the most comfortable option, which is why a growing number of UK...
5 Things Growing Businesses Should Know About Managing Legal Risk
They tend to surface when you’re at your busiest: a supplier stops delivering halfway through a contract, or a former...
How Do I Prevent Mould and Moisture Damage in Storage?
Whether you are decluttering, moving house or keeping business stock on hand, a little planning before you pack makes a...
Open wide, Chancellor: Britain’s businesses are already in the chair
Three weeks ago I had a tooth out. It did not go quietly. The extraction took forty-five minutes, with the...
