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63°
Monday, nov 18
Tag:
Retail market
Business
CVS To Close 900 Stores As It Adjusts To Increasing Number Of Online Shoppers
Nearly one thousand CVS stores are set to close over the next three years as the retail giant continues to pivot away from retail and leans into the company's healthcare services. On Thursday, Nov. 18, the company announced that it planned to shut down at least 300 stores annually for the next three years as it re-evaluates its business strategy. The closures will begin in spring 2022. CVS made the announcement as it continues to contend with digital competition and online shopping, which was exacerbated during the COVID-19 pandemic, forcing the company to pivot its plans for the future. …
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