CVS to Close More Stores in 2025: What to Know
CVS Health has been a trusted name in healthcare for decades, but the company’s plan to close an additional 270 stores or more in 2025 could limit pharmacy access for some customers.
The closures are part of a multi-year restructuring effort and reflect a broader shift underway across the retail healthcare industry. Many traditional pharmacy chains are reevaluating their footprints as consumers increasingly turn to digital solutions, telehealth and home delivery services.
These evolving preferences, coupled with rising operating costs and competition from online retailers, are forcing companies to adapt their strategies to remain profitable and relevant in a changing healthcare landscape.
Subscribe to Kiplinger’s Personal Finance
Be a smarter, better informed investor.
Save up to 74%
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail.
Profit and prosper with the best of expert advice – straight to your e-mail.
Why are CVS stores closing?
In a 2021 statement, CVS Health announced that it would be closing approximately 300 stores a year over the following three years, beginning in spring of 2022. “The company has been evaluating changes in population, consumer buying patterns and future health needs to ensure it has the right kinds of stores in the right locations for consumers and for the business,” read the statement.
While CVS Health is closing stores, it is also creating new store formats “to drive higher engagement with consumers.” These new stores will include sites that offer primary care services, enhanced HealthHUB locations offering products and services for everyday health and wellness needs and traditional CVS Pharmacy stores.
The CVS Health annual report, filed in February, states that the retailer plans to close 270 stores in 2025. According to the report, the closures are part of an “enterprise-wide restructuring plan intended to streamline and simplify the organization, improve efficiency and reduce costs.”
Which CVS stores will close in 2025?
(Image credit: Getty Images)
CVS has not published an official list of store closures for 2025. However, news outlets have identified several locations reportedly scheduled to close this year.
While these reports offer a glimpse at the areas potentially impacted, CVS has not confirmed individual store addresses. For the most up-to-date information, customers are encouraged to check directly with their local store or use the CVS store locator.
What the CVS store closures mean for pharmacy access and the future of retail
The CVS store closures are part of a larger retail healthcare restructuring that could limit pharmacy access. Walgreens has announced a plan to close 1,200 stores in three years, beginning with 500 store closures in 2025. Rite Aid filed for Chapter 11 bankruptcy on May 5 and has announced it will close more than 400 stores.
Changing shopping habits may be behind these closures. The launch of Amazon Pharmacy in 2020 created additional competition, and the convenience of being able to order a prescription online and have it delivered to your door is hard to beat.
As online shopping and shifting consumer habits drive changes in retail healthcare, access to in-person pharmacy services may become more limited. While online pharmacies offer convenience, they aren’t always the best option, particularly when you need a prescription filled quickly or have questions that require a pharmacist’s guidance.
Pharmacies like CVS offer the option to speak with a pharmacist and ask questions, and that personal relationship is lost when buying online. And, for individuals who lack internet access or aren’t comfortable ordering online, local pharmacies are essential.
With fewer brick-and-mortar pharmacies available, you may have to drive farther to reach your local pharmacy. Prescription fulfillment times may be extended, and you may need to be prepared to wait in longer lines.
Retailers like CVS may introduce new store formats to offset some of the closures, but the retail healthcare landscape is clearly shifting. Chances are that more individuals will turn to online pharmacies because of the lack of local options, and will use local brick-and-mortar pharmacies only for urgent prescription needs.
The bottom line
As CVS and other major pharmacy chains adjust to changing consumer behavior and rising competition, the future of pharmacy access may look very different.
While online services offer convenience, the loss of local stores could create new challenges, especially for those who rely on in-person care. Staying informed and exploring all available options will be key as the healthcare retail landscape continues to evolve.
Related Content
Source link
