- Advertisement -

- Advertisement -

CVS Health announced Thursday that it will close about 300 stores annually for the next three years.

- Advertisement -

The move is part of CVS’s strategic review of its retail business. The pharmaceutical chain said it is evaluating changes in population, consumer buying patterns and future health needs to ensure it has the right types of stores in the right places for consumers and businesses.

“Our retail stores are fundamental to our strategy and who we are as a company,” said Lynch, president and CEO of CVS Health. said in a statement, “We remain focused on the competitive advantage provided by our presence in thousands of communities across the country, which complements our rapidly growing digital presence.”

CVS Pharmacy in the Port District in Boston, Massachusetts. (Staff photo by Nicholas Jarnecki/Media NewsGroup/Boston Herald)

Workers affected by the closure will be offered roles in other CVS locations or various career opportunities as part of CVS’s overall workforce strategy.

The closures will not begin until spring 2022. But the stores that remain open will get a facelift.

CVS said it will be rolling out new store formats aimed at increasing consumer engagement. Traditional CVS pharmacy stores will continue to offer prescription services along with health, fitness, personal care and other convenient retail items.

But some sites will become dedicated to providing primary care services. Others will be an enhanced version of HealthHub locations with products and services designed for everyday health and wellness needs.

This story was reported from Atlanta.