SAN FRANCISCO (KRON) – CVS plans to close a total of 900 stores over the next three years, the company said Thursday.
The first 300 stores will begin to close in spring 2022.
CVS said it had “assessed changes in population, consumer buying habits and future health needs” to ensure it had its locations in the right places.
Employees of stores that are closing will have the option to relocate or work in another capacity with CVS, the company said.
Part of the company’s strategy also includes the creation of “new store formats”, which means that the remaining stores will be divided into three types: sites dedicated to offering primary care services, an improved version HealthHUB locations and the traditional CVS Pharmacy store.
Walgreens also announced several store closures, including at least five in San Francisco. However, the company said this was due to concerns about “Ongoing organized crime in the retail sector” in the city.
San Francisco rulers quickly refuted this claim, believing that the local closures were linked to Walgreens’ larger plan to shut down approximately 200 sites nationwide.