CVS closing 900 stores as shoppers move online

CVS Pharmacy announced on Thursday that it would close roughly 900 stores in the next three years. 

The company said in a statement it was “evaluating changes in population, consumer buying patterns and future health needs to ensure it has the right kinds of stores in the right locations for consumers and for the business.”

“We remain focused on the competitive advantage provided by our presence in thousands of communities across the country, which complements our rapidly expanding digital presence,” CEO Karen S. Lynch said in the statement. 

Beginning next spring, CVS will close the stores at a pace of 300 stores per year for three years. The company said it was “committed to offering impacted colleagues roles in other locations or different opportunities.” The drug store chain did not say how many jobs would be affected by the decision. 

Earlier this month, CVS announced that it would be offering children between ages 5 and 11 the pediatric dose of the Pfizer-BioNTech vaccine “upon receipt and confirmation of vaccine supply.”

In September, the drug store also said it would ramp up hiring in anticipation of COVID-19 booster shots and flu vaccines. At the time, the company said it would hire 25,000 people during a one-day event to fill roles including “full-time, part-time, and temporary licensed pharmacists, trained pharmacy technicians and nurses.” The pharmacy also added they would be hiring more retail store associates.