CVS To Close Pharmacies At Targets Across The Country

Last year was a rough one for retailers, with stores like Sears, Pizza Hut and Foot Locker closing locations as a cost-cutting measure, and companies like Bed, Bath & Beyond, Tuesday Morning and Christmas Tree Shops shuttering all their locations amid bankruptcies. Well stores and restaurants aren't the only places struggling financially, some pharmacies are facing challenges as well. Rite Aid had to declare bankruptcy, while Walgreens and CVS have been closing locations. Now, CVS has announced more closures and these affect some of their pharmacies in Target stores.

The decision comes nine years after CVS bought Target's pharmacy business for $1.9 billion. According to a spokesperson for CVS, "The closures are part of our plan to realign our national retail footprint and reduce store and pharmacy density and are based on our evaluation of changes in population, consumer buying patterns and future health needs to ensure we have the right pharmacy format in the right locations for patients." She added that the closures will begin next month and be completed by the end of April. While the number of affected locations hasn't been announced, the Wall Street Journal reported it will affect "dozens of pharmacies inside Target stores."

Customers with prescriptions at the Target CVS locations that shutter will have their scripts transferred to a nearby CVS ahead of the closure. CVS will also offer any employees impacted by the closures "comparable roles within the company." As for which pharmacies will be affected, the company said they are "not sharing a list" of those locations.