CVS Announces Plan to Close 900 Stores Over Next 3 Years

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WOONSOCKET, R.I. (WBZ NewsRadio) — CVS announced Thursday it will be closing 900 stores over the next three years as a plan to create new store formats going forward.

The company said in a statement Thursday the move was inspired by a rise in customers shopping online more often and an effort to reduce store density. CVS plans to close 300 stores per year over the next three years.

While the company did not indicate which store would be closing, stores will begin closing in the spring of 2022. Employees at closed locations will be offered new roles at other locations or given new opportunities in the company, according to the statement.

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With these stores closing, the company said it plans to shift the stores' focus to serving as a destination for healthcare and related products. The company plans to shift stores to different formats, including stores that are dedicated entirely to offering primary care services.

The Woonsocket-based company plans to expand its HealthHUB locations, which offer products and services surrounding health wellness. These locations are staffed with healthcare professionals like dieticians and include community spaces for exercise and other related activities.

In addition to these new formats, the company plans to still maintain some of its traditional pharmacy stores.

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