Rite Aid will close dozens of pharmacies in the US

Rite Aid announced on December 21 that it is closing 63 more stores to save about $ 25 million a year. CNN.

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After years of over-expansion, Rite Aid and other giant American drugstore chains are struggling.

They have closed hundreds of stores over the past few years, despite the pandemic that has drawn people to pharmacies.
The exact location of the closing stores on December 21 was not disclosed, but the company said the closure would help the company "lower costs, increase profitability and provide a solid foundation for growth." Rite Aid has about 2500 stores in 19 states, so closings account for just 2% of its retail.

The Rite Aid store closure follows CVS Health's recent announcement that it will close 900 stores over the next three years. CVS explained that the November closures were due to "shopping patterns" and that they would begin next spring.

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Rite Aid (RAD), significantly fewer than rivals CVS (CVS) or Walgreens (WBA), are currently revamping some of their stores to focus on making more space for cosmetics and personal care products, as well as vitamins. and additives, and less for office supplies and household appliances.

All major US pharmacy chains have recently changed their retail chain.

For example, CVS has admitted that it has too many stores, which are located too close to each other in some places.

Also, fewer people these days are choosing Rite Aid and other pharmacies to get prescription drugs and buy household goods. Some shoppers have replaced their shopping trips like CVS with online shopping from Amazon or from mainstream giants like Walmart and Target.

In recent years, the networks have built their own strong e-commerce business.

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