Posted on 06/02/2025 6:23:59 AM PDT by SeekAndFind
CVS says it will close 271 retail locations across the country by the end of the year.
The company — the world’s second-largest healthcare provider — announced the move to stockholders late last week as part of an enterprise-wide restructuring plan.
The goal, CVS says, is to simplify the organization, improve efficiency, and generate more than $500 million in cost savings in 2025.
CVS has not yet released which stores will be affected or when closures will take place.
The company currently operates around 9,100 stores across the US.
Founded in 1963 in Lowell, Massachusetts, CVS is now headquartered in Woonsocket, Rhode Island.
(Excerpt) Read more at dailyvoice.com ...
I guess partnering with 0bamaScare and ChyNah virus shots wasn’t such a great plan, after all.
I guess they thought stop selling tobacco products was a brilliant tactic. No I don’t smoke, but I even thought that was stupid from a business perspective.
I never got the expansion of “big box” drug stores that sold food, clothes and other junk unrelated to drugs and health. None of what they sell is high margin. And the market is saturated with stores that sell that stuff. Now its all falling apart. I wonder if we’re going to a world where they all shut down and you have to buy your drugs online.
The CVS store in my town is filthy. A few years ago, they installed carpeting throughout. Why anyone would do that in a health-care related retail facility is beyond me. The carpeting is stained, worn, and rarely (maybe once a week?) vacuumed. There was once a dental flossing device on the carpet by the pharmacy counter. I saw it one day, and had to go back two days later. It was still there. No surprise they’re going under. Basic, basic stuff.
Not necessarily “big box” more like “one stop shopping”. It follows a Marketing 101 consumer rule, “a dollar spent at CVS is not a dollar spent at Walgreens!
271 / 9100 = 0.0297 %
How is this even significant? Sounds like they’re just taking out the trash.
People realizing there doesn’t need to be 3 drugstores at every intersection in America.
Walgreens isn’t much better. They sell tobacco but insist on a drivers license (regardless of age) in order to purchase it. I’m sure they then sell that information to health insurances company.
S/B 2.97%
That’s 0.0297 (2.97%).
Yet there used to be more drug store chains…many with large stores. Many gobbled up by CVS and the now-liquidating Rite Aid. Then turned into corner 7-11s with a pharmacy.
A lot just order the meds online and have them delivered.
That's not that many, surely they have at least 5% of their stores woefully underperforming in crap areas.
My wife shopped Wal-Mart often. I did not grocery shop. On occasional trips there I pointed out how filthy the aisles were. She said she hadn’t noticed. She changed stores and never went back. That is how a big chain business goes out. McDs will be soon, too. My prediction.
1. They greatly inflated prices.
2. They were sneaking prescriptions into orders that were not actually prescribed.
3. The staff are the most unfriendly, unhelpful, rude people on the planet...
Always a good plan for success...
About 5-10 years ago, both CVS and Walgreens went on a building tear here in the RDU area. Stores were popping up all over the place, many in questionable locations. I can think of several within a few miles of me that are so difficult to get in and out of that I won’t go to. I drive 5 miles to the next town instead of the 2 miles to the closest Walgreens.
Likely the stores were having issues with shoplifting. Perhaps they were marginally profitable before covid.
I worked in the pharmacy industry in the 00’s.
I had to drive a lot and was a big Rush listener. I remember hearing him go on and on about how Medicare Part D was going to be bad for pharmacies and it shouldn’t pass. Then I received an internal memo from my company (big box RX) to the employees saying how Medicare Part D was going to be great.
I didn’t understand how Rush (who I trusted) would be saying one thing and the people who were supposedly going to be hurt were saying the exact opposite. I suffered from some cognitive dissonance for awhile.
Then it all made sense about 6-9 months after it was finally passed.
My territory went from buying out and taking over 1-2 small independent pharmacies every quarter to buying out 1-2 small independent pharmacies every week.
The independents couldn’t handle the lower and slower reimbursements like the big boys could.
That is when I fully realized that big govt and big industry coordinate with one another to control the free market and kill the little guy through death by a thousand cuts.
The sheeple were told that Obamacare would lower costs and make healthcare better for everyone. How’s that working out?
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