Fierce Health Payers November 18, 2021
CVS Health plans to shutter approximately 900 stores over the next three years, the pharmacy and retail giant announced Thursday.
Beginning next spring, the chain will close roughly 300 stores a year as the company reevaluates its in-person retail strategy with more consumers going digital.
Due to the planned store closures, the company projected an impairment charge between $1 billion to $1.2 billion through the end of the year and reduced its per-share profit guidance for 2021 to $5.46 to $5.67, down from previous projections of $6.13 to $6.23 per share.
“Our retail stores are fundamental to our strategy and who we are as a company,” said Karen Lynch, president and CEO of CVS Health, in a statement. “We remain...
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