According to this dinosaur media report CVS is closing 46 locations. Over the last year the retail apocalypse has claimed approximately 20,998,888,999,666,442,001 stores. Nothing to see here, the economy is roaring!
Add CVS Health to the growing list of retailers closing some of their stores.
The pharmacy giant revealed it plans to shutter 46 locations in the U.S., saying many of them were “underperforming.”
The move is part of a broader plan to cut back on the number of retail products CVS stores sell and instead, add in-store health care services like hundreds of SmileDirect shops for customers looking to straighten their teeth.
The closures also add to a growing trend of brick-and-mortar stores disappearing as more customers move their shopping online.
A forecast from CoreSight Research found the trend of brick-and-mortar stores closing won’t slow down in 2019. The research firm cites the growth in online shopping, interest rates and a rise in bankruptcies. As of February, CoreSight said the number of bankruptcy filings during the first six weeks of 2019 already reached one-third of 2018’s total.