CVS Health is closing five pharmacies in New York State this year as part of its nationwide plan to shut down 271 locations by 2025. The closures are the latest phase in the pharmacy giant’s downsizing effort, which began in 2022.
The affected stores are located in North Tonawanda, Staten Island, Manhattan, and Albany. CVS has not publicly disclosed a full list of locations or exact closure dates but cited population shifts, consumer buying patterns, and community health needs as reasons for the decision.
The closures come amid a broader trend of consolidation in the retail pharmacy sector, with major chains like Walgreens and Rite Aid also scaling back operations. These moves are driven by inflation, shrinking margins, and shifting consumer behavior.
Despite the store closures, CVS plans to open 30 new locations this year, many of them inside Target stores. The company aims to simplify its business model and generate $500 million in annual savings through these efforts.
The retail pharmacy sector is undergoing a dramatic transformation, with online competitors and changing consumer behavior playing key roles. Analysts predict that this trend will continue, with CVS and other chains adapting to the new landscape.
Source: https://nypost.com/2025/06/02/business/cvs-to-shutter-5-pharmacies-in-new-york-271-stores-nationwide