CVS, one of the largest drug retailers in the United States, has announced that it will close at least 300 of its pharmacies annually for the next three years.
The closures are part of a larger plan to shut down 900 stores nationwide by the end of 2026. Despite the closures, CVS CEO Karen Lynch stated that their retail stores are fundamental to the company's strategy and that they remain focused on their competitive advantage in thousands of communities across the country.
Store Closures:
The first store closures were reported in California, with a CVS pharmacy in Oakland set to close on January 9th. A store in Chico, California will also shut on January 23rd. However, customers with prescriptions will have them transferred to a nearby CVS pharmacy located just a mile away.
CVS clients in parts of New York could also be affected as a pharmacy in Albany also closed on January 12th. A spokesperson for the company did not explain the reason for the closures but stated that the company wants to maintain "access" to pharmacy services for those who may be affected.
Impact on Customers:
The closures have caused inconvenience for some customers. Bill Moore, a resident of San Jose for more than three decades, revealed that he used to walk to the CVS store in The Alameda, but now has to drive to a CVS store located further away.
Retail expert Neil Saunders of Global Data warned in 2021 that:
Too many stores are stuck in the past with bad lighting, depressing interiors, messy merchandising, and a weak assortment of products.
Saunders also stated that they are not destinations or places where people go out of anything other than necessity.
Impact on Staff:
CVS spokesperson Amy Thibault revealed that staff members affected by the store closures will be offered "comparable roles" within the company. Sarah Walton, the company's director of pharmacy operations, admitted that it can be "stressful" for Americans to change pharmacies.
She stated:
It's stressful for a lot of patients. The thought of switching pharmacies can be very daunting, especially when you have patients that have a lot of medication.
Conclusion:
CVS's announcement of its plan to close 900 stores by 2026, with at least 300 stores closing annually for the next three years, has raised concerns about the impact on customers and staff. While the company stated that it wants to maintain "access" to pharmacy services for those who may be affected, the closures have caused inconvenience for some customers.
Staff members affected by the closures will be offered "comparable roles" within the company, but it can be stressful for patients to change pharmacies.
What Are Your Thoughts?
Have you been affected by the CVS store closures? How do you feel about the inconvenience caused by the closures? Have you had to change pharmacies in the past? How was the experience for you?
Share your thoughts and experiences in the comments below!
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