NEW YORK (TNS) — Big changes are in store for CVS stores.
Approximately 900 CVS locations will close down over the next three years as the company introduces new formats for its stores, the retail and pharmacy chain announced Thursday.
“The company has been evaluating changes in population, consumer buying patterns and future health needs to ensure it has the right kinds of stores in the right locations for consumers and for the business,” CVS said in its announcement.
The closures are set to begin next spring, with about 300 stores permanently shutting their doors annually during that stretch.
No information was provided regarding specific sites to be closed. There are two CVS stores in the area, one in Bradford, Pa., and one in Olean.
CVS also announced Thursday that its stores will be split into three separate formats, including traditional drug stores, locations that specialize in primary care services and others that focus on health and wellness needs.
The company didn’t specifically detail what each of those three store formats will entail.
“Our retail stores are fundamental to our strategy and who we are as a company,” Karen S. Lynch, the president and CEO of CVS Health, said in a statement.
“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.”
CVS currently operates more than 9,900 store locations across 49 states, Washington, D.C., and Puerto Rico.
