Why Walgreens And CVS Are Shutting Down Thousands Of Stores

CNBC
Written By St. Paul Corner Drug (SPCD)

In its fiscal third-quarter report, Walgreens announced its plans to close a ‘significant’ amount of stores, acknowledging only 75% of its 8,600 stores were profitable. While no specific stores were tapped for closure yet, more than 2,000 locations could face the chopping block by 2027. This just the latest sign of trouble for the struggling retail pharmacy sector as CVS and Rite Aid both announced large closures in the past year. Watch the video linked below to learn why U.S. pharmacy chains are fighting for survival.

St. Paul Corner Drug (SPCD)
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