CVS closing some of its Target pharmacies
CVS will close select locations inside Target stores, CNBC is reporting.
The pharmacy closures will start in February and be complete by the end of April. Employees affected by the shutdowns will be offered comparable roles within CVS, the report noted, and that prescriptions from the shuttered stores will be transferred to a nearby CVS before closure.
The moves is “based on our evaluation of changes in population, consumer buying patterns and future health needs,” a CVS spokesperson told CNBC.
It’s unclear how many stores will be closed but the Wall Street Journal reported numbers could reach into the dozens.
CVS operated 9,000 pharmacies nationwide with roughly 1,800 in-Target store locations.