Pharmacy chains CVS, Walgreens, and Rite Aid are closing hundreds of stores due to financial struggles. Rite Aid filed for bankruptcy for the second time in three years, with 316 store locations slated for closure. The chain plans to transition pharmacy assets to other operators, including CVS Pharmacy and Albertsons.
Walgreens is also cutting back, announcing plans to close approximately 1,200 stores across the US over a multi-year period. The company aims to improve its core business by controlling costs and improving cash flow.
CVS has already closed 900 stores between 2022 and 2024 and plans to close an additional 270 stores in 2025. However, the company is also opening new locations, including pharmacies inside Target stores, as part of its strategy to better meet consumer needs.
Source: https://eu.usatoday.com/story/money/2025/05/29/cvs-walgreens-rite-aid-pharmacy-stores-closing/83922662007