CVS Pharmacy to Close 900 Stores by the End of 2024, Citing Shoplifting as Major Problem
(Source: The Gateway Pundit)
CVS says it will close NINE HUNDRED stores by the end of 2024 – 10% of all its shops – as it moves to online strategy amid rampant increase in shoplifting
CVS is set to close hundreds of stores across the country as it undergoes a complete retail overhaul – as more outlets move towards online sellers amid rampant increases in crime.
The major drugstore chain is coming to the end of a policy launched in 2021 which will see 300 stores closed each year – meaning 900 will have shuttered by 2024.
In the announcement, which has hit headlines again recently amid rampant shoplifting at the chain, bosses they said that they were undergoing a new ‘retail footprint strategy.’
CVS and other retailers across the US continue to adjust to post-pandemic footfall, with COVID helping turbocharge the popularity of online shopping.
CVS claims that ‘local market dynamics, population shifts, and a community’s store density’ are some of the aspects it has looked into when deciding which stores to shutter.
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