Sour note: Greeting card companies need a sympathy card: CVS, Walmart poised to cut back CVS is bracing for the likelihood of Amazon's entry into prescription drugs after the online giant acquired startup PillPack.ĭeal with SmileDirectClub: 'Hundreds' of CVS Pharmacy stores to get SmileDirectClub shops The company expects to record an operating profit of between $11.8 billion and $12 billion this year.ĭrugstore chains have not been immune to upheaval roiling the retail industry and the health care sector. More: Payless, CVS and Victoria's Secret are just some of the brands closing stores in 2019ĬVS remains a solidly profitable business. They also included four stores in Chicago, two in San Francisco and two in Minneapolis. The closures, which happened over the last two months, include a 64,000-square-foot location in Springfield, Missouri, once described as the largest CVS in the world. The cuts represent fewer than 1% of the about 9,600 CVS Pharmacy stores nationwide. The move cost CVS about $135 million as a "store rationalization charge" in its first-quarter earnings report. Watch Video: Bed Bath & Beyond, other store closings can blame shoppersĬorrections & clarifications: The town of one CVS store in Alabama was misstated in an earlier version of this story, and two stores were removed to reflect updated information provided by CVS.ĬVS Health is closing 46 of its stores, saying the locations were "underperforming" as the drugstore chain continues to shift more of its retail presence toward health care services.
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