Summary
Two major pharmacy chains, CVS Health and Rite Aid, are closing many stores across the U.S. CVS's closures are part of a long-term plan, while Rite Aid is facing financial difficulties and bankruptcy. The closures could impact health care access in some communities, although CVS claims most people will still have nearby options.
Key Facts
- CVS Health has closed more than 1,100 stores since 2022 as part of a planned strategy.
- CVS closures aim to match changing customer habits, like more mail-order prescriptions and digital services.
- CVS asserts that even with store closures, 85% of people in the U.S. live within 10 miles of a CVS Pharmacy.
- Rite Aid is closing stores due to financial problems and is undergoing bankruptcy proceedings.
- Rite Aid closures are aimed at stabilizing the business and exploring potential sales.
- CVS Health has opened nearly 200 new stores between 2022 and 2025, including some inside Target stores.
- Rite Aid stores have historically served as important health access points in areas with fewer health care options.
