CVS To Close 900 Stores As Pandemic Upends Traffic

CNBC reports:

CVS Health said Thursday that it will close about 900 stores over the next three years, as it adjusts to shoppers who are buying more online. The company announced in a news release that it will focus more of its efforts on digital growth and turning its stores into destinations that offer a range of health-care services, from flu shots to diagnostic tests. CVS is shaking up its business as the pandemic accelerates changes in consumer behavior.

More people are getting prescriptions filled online, retrieving personal care items through curbside pickup and visiting with doctors through telehealth. The drugstore chain and health insurer said it is closing the stores based on changes to the population, customer habits and health needs. Stores will also be further integrated into its health insurance business, Aetna, which it acquired in 2018.

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JUST IN: CVS Health says it will close about 900 stores over the next three years, as it adjusts to shoppers who are buying more online. https://t.co/dax4MaZmSe

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