CVS Announces Plan to Close 900 Stores: How Many Will Be in NJ?
CVS has announced plans to close 900 stores across the country over the next three years, as part of a review of its retail business.
CVS President and CEO Karen S. Lynch said while retail stores are fundamental to the pharmacy chain's strategy, the company is responding to consumer buying patterns and future health needs in order to make sure it has "the right kinds of stores in the right locations."
As a result, 300 retail locations will be shuttered each year, over the next three years, Lynch said.
CVS has 340 locations in New Jersey, according to its website.
A list of which locations would be closed was not yet available, according to CVS spokeswoman Tara Burke.
"Changes to our store footprint won’t start until the end of Q1 2022. We’ll provide more details, including specific locations, when available," Burke told us.
Three new CVS store formats
The chain said it will create three new store formats for its stores that will serve as "community health destinations."
- One format will offer primary care services.
- Another will be an enhanced version of its HealthHUB locations with products and services designed for everyday health and wellness needs.
- The third format will be the traditional CVS store with prescription services and health, wellness, personal care and retail items.
"The company is committed to offering impacted colleagues roles in other locations or different opportunities as part of its overall workforce strategy," Lynch said.