Share this @internewscast.com

CVS closing dozens of its Target pharmacies in 2024


CVS closing dozens of its Target pharmacies in 2024

00:26

CVS Health will close dozens of pharmacies inside Target stores as the drugstore chain confronts escalating costs. 

The closures involving a number of CVS’ 1,800 locations in Target stores will start in February and end by early April. The closures are part of an effort to “realign our national retail footprint and reduce store and pharmacy density,” a CVS spokesperson said in an email.

Impacted employees will be offered comparable roles within CVS, the spokesperson stated.

“Prior to the closing of any impacted location, prescriptions will be transferred to a nearby CVS Pharmacy to ensure patients have uninterrupted access to pharmacy care,” the spokesperson said.

CVS, the nation’s biggest drugstore chain, cautioned investors in August that increasing expenses in its pharmacy and insurance business would dent profit during the next couple of years. The company last year enacted a restructuring plan that cut 5,000 positions. 

Walgreen’s earlier this month said it is looking to cut $1 billion in expenses this fiscal year. Rite Aid last year filed for bankruptcy.

Woonsocket, Rhode Island-based CVS has run pharmacies in Target locations since late 2015 when it purchased the business from the retailer for about $1.9 billion.

Minneapolis-based Target, which operates 1,950 discount stores across the U.S., referred a request for comment to CVS.

CVS had said it would close about 900 of its 9,000 stores between 2022 and 2024. By the close of 2023, the company had shut roughly 600 of those locations. 


Share this @internewscast.com
You May Also Like

Doctor Xand’s Urgent Sleep Patch Warning: What BBC Morning Live Revealed

BBC Morning Live’s resident GP, Doctor Xand van Tulleken, has issued a…

New Study Reveals: One Extended Walk Surpasses Short Bursts for Optimal Heart Health

Striving to achieve 10,000 steps daily is a widely embraced fitness target…

Achieving ‘Dream’ Abs in Just Two Weeks: A Simple At-Home Routine for a Toned Physique

A European woman recently revealed her impressive body transformation, achieved in just…

From Running Injury to Life-Altering Diagnosis: My Journey with a Deadly Disease

Clara thought at first that she had just hurt her back while…

Discover the 3-Month Journey to a Stunning Transformation: How One Woman Shed 35lbs Naturally and Boosted Her Fitness

A woman who managed to shed 35 pounds in just three months…

Massive Medicare Overhaul: Essential Updates Every Australian Needs to Know

A transformative $7.9 billion change to Medicare is set to launch on…

Thousands Honor Slimming World Pioneer Margaret Miles-Bramwell at Heartfelt Farewell Ceremony

Hundreds gathered to honor Margaret Miles-Bramwell, the visionary behind Slimming World, who…

Revolutionary Treatment Targets and Eliminates Majority of Skin and Colon Cancer Cells in Half an Hour

Scientists have unveiled a revolutionary light therapy technique that may eradicate cancer…

Surprising Twist: First-Time Parkrunner’s Experience Takes an Unforeseen Turn

At 9 a.m. on a Saturday, you’d hardly expect to find me…

Study Reveals Nighttime Exposure to Certain Factors Increases Heart Failure Risk by 56%

In light of recent findings, a scientist recommends investing in blackout curtains…