Why pharmacy chains like Walgreens and CVS are shuttering locations
CVSCVS Health(CVS) CNBC·2024-08-05 00:00

In its fiscal third-quarter earnings report to investors in late June, pharmacy chain Walgreens announced plans to close a "significant" number of its 8,600 U.S. stores.CEO Tim Wentworth said only 75% of the chain's locations were making a profit, and that the other one-quarter of them faced the chopping block by 2027.This was just the latest sign of weakness out of the retail pharmacy space following a slew of CVS closures through the end of this year and Rite Aid filing for bankruptcy in October."Pharmacy ...