CVS Health plans to close select pharmacies inside Target stores early this year, a company spokesperson said Thursday, as retail pharmacy chains in the U.S. struggle to boost profits.
The closures will begin in February and finish by the end of April, the spokesperson said in a statement. She added that employees affected by the closures will be offered comparable roles within CVS, and prescriptions will be transferred to a nearby CVS pharmacy before a location closes.
The spokesperson did not disclose how many stores would be shuttered, but a report from The Wall Street Journal on Thursday said CVS would close “dozens” of locations.
CVS operates 9,000 pharmacy locations nationwide. The company has a pharmacy in about 1,800 of Target’s 1,956 stores in the U.S., according to a Target spokesperson.
The Target spokesperson declined to comment on the closures or share plans for the closed CVS locations.
The decision to shutter the stores is part of CVS’ effort to reduce its retail…
2024-01-11 15:45:10
Article from www.cnbc.com