‘Drugstores’ as a whole are nearing obsolescence.
Why go to a high priced ‘drugstore’ when every Walmart, Target, Sam’s, and Grocery Chain has a pharmacy?..................
And a lot of drug insurance requires mailed prescriptions, so even less reason to go in.
Plus, you had a lot of consolidation in that business. Over the years CVS has swallowed up a number of other chains, like Osco, Sav-on, Long’s and more, leading them into a situation where they now have too many locations competing against each other. Same thing happened with Macy’s buying up other department store chains.