CVS Health, the largest U.S. pharmacy chain, has announced it is planning to close 900 stores over the next three years. Presently, CVS has around 10,000 stores throughout the US.
The company said the move is a change in strategy as CVS will focus more of its efforts on digital growth and turning its stores into destinations that offer a range of health-care services, from flu shots to diagnostic tests.
During the pandemic, there have been major changes in consumer behavior as shoppers turned to deliveries and curbside pickups as well as filling prescriptions online. Reducing the number of stores is a response to that change and allows the company to focus more on its ecommerce strategies.