CVS Health to Close 271 Stores Nationwide

News Summary

CVS Health plans to close 271 stores across the U.S. in 2025 as part of a restructuring plan aimed at optimizing operations. This follows nearly 900 closures from 2022 to 2024. Amid changing consumer behavior and market conditions, CVS is focusing on savings and adapting to evolving healthcare demands while also opening 30 new pharmacy locations, some within Target stores. The decision reflects a trend within the pharmacy sector as competitors like Walgreens and Rite Aid also face financial challenges.

New York – CVS Health has announced plans to close 271 of its stores nationwide in 2025 as part of a broader “enterprise-wide restructuring plan.” This decision comes on the heels of approximately 900 store closures executed between 2022 and 2024. The company’s strategy aims at streamlining operations and optimizing its existing retail locations and pharmacy services.

While CVS has not provided specifics on which locations will be shutting down or when those closures will take place, the Krazy Coupon Lady and Newsweek have identified at least 39 pharmacies slated for closure in 2025. In New York state, five specific CVS locations are confirmed to be closing, which include:

– North Tonawanda: 955 Payne Ave.
– New York City: 1241 Lexington Ave.
– Staten Island: 1654 Richmond Ave.
– Albany: 153 Central Ave.
– Albany: 1026 Madison Ave.

CVS’s decision is influenced by a variety of factors, including population shifts, changing consumer buying patterns, store and pharmacy density, access to pharmacy care, and the evolving health needs of communities. The chain aims to achieve significant savings, projecting that these closures will help generate over $500 million.

Despite the downsizing, CVS plans to maintain a balanced approach by opening 30 new pharmacy locations in 2025, some of which will be integrated within Target stores. As of December 31, 2024, CVS operated around 9,000 locations across the United States.

The move to close stores comes at a time when other pharmacy chains, such as Walgreens and Rite Aid, are also grappling with financial difficulties. Walgreens recently announced that it will be closing 1,200 stores, and Rite Aid is set to shut down all its stores, including 178 locations in New York state.

CVS Health’s restructuring is indicative of a broader trend in the retail and pharmacy sectors, where companies are reassessing their business models in response to changing market conditions and consumer preferences. The closures are seen not only as a cost-cutting measure but also as a strategy to adapt to a rapidly changing healthcare landscape. Through this initiative, CVS aims to continue providing accessible pharmacy care while ensuring its long-term business viability.

As the healthcare environment continues to evolve, CVS, Walgreens, Rite Aid, and other pharmacy chains will need to remain agile and responsive to various external pressures, including demographic changes and healthcare demands. The closures and openings planned for 2025 represent a significant shift in the pharmacy landscape and highlight the need for retail operations to continuously evaluate their presence within communities.

Deeper Dive: News & Info About This Topic

• Syracuse: CVS Closing 271 Stores
• Wikipedia: CVS Health
• Newsweek: CVS Closing 270 Stores
• Google Search: CVS store closures
• AL.com: CVS Closing 270 Stores Nationwide
• Google Scholar: CVS store closures
• Finger Lakes 1: CVS Closing 270 Locations
• Encyclopedia Britannica: CVS Health
• WOBM: CVS Store Closures Impact on New Jersey
• Google News: CVS store closings