CVS Health will close 900 pharmacies in the US

CVS Health will close 900 pharmacies over the next three years, representing almost 10% of the total. This is a response to changing "consumer purchasing patterns", writes CNN.

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The chain's management said the closure would lead to a retail development that would ensure "the right kinds of stores in the right places for consumers and businesses." The list of properties that have come under closure since the spring of next year has not yet been published.

The close is part of a broader restructuring of the strategy of approximately 10 points. In particular, this is the refurbishment of some stores to provide more medical services, such as primary health care, and the "expanded version" of the HealthHub.

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“We remain focused on the competitive advantage provided by our presence in thousands of communities across the country, which complements our rapidly expanding digital presence,” explained CVS CEO Karen Lynch.

The closure will cost the company approximately $ 1 billion. Affected employees will be offered jobs in nearby locations.

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Neil Saunders, retail industry analyst and managing director of GlobalData, clarified that the shutdown is the result of CVS having "too many overlapping points and poor store conditions."

“Too many stores are stuck in the past with poor lighting, depressing interiors and poor product offerings,” Saunders commented.

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