Volkswagen Approves 50,000 More Job Cuts in Major Restructuring 
Milei Threatens Falkland Oil Firms With Sanctions 
MongoDB Stock Sinks 14% as Atlas Growth Misses Expectations 
Honda Targets $9.4 Billion in Cost Cuts as China EV Competition Intensifies 
Berkshire Hathaway Eyes Bigger Stakes in Japan’s Top Trading Houses 
South Korea, US Discuss Chip Investments Amid Tariff Plans 
Audi, SAIC Launch China Innovation Hub for New AUDI Models 
Nvidia Eyes $2.5 Billion Investment in Thinking Machines Lab 
Lenovo Shares Fall After Dropbox Security Breach Exposes ID Vulnerability 
SpaceX Turbine Push Unlikely to Threaten Howmet, Bernstein Says 
Xiaomi Shares Jump on Europe EV Expansion Plan 
Lynas Rare Earths Shares Rise After Takeover Talks Revealed 
Anthropic Nears $15 Billion Credit Deal Ahead of IPO 
BP Names Ian Tyler Permanent Chairman After Governance Shake-Up 
ByteDance Secures $29.6 Billion Loan to Boost AI Investment 
US Tech Giants’ AI Bond Boom Raises Euro Zone Borrowing Risks 
GSM Eyes US, Europe Expansion Ahead of 2028 Hong Kong IPO 
Add as a preferred source on Google
CVS Health is reportedly closing down a number of its pharmacies installed in Target stores in the United States. The pharmacies are expected to be removed from the discount department store chain’s locations in early 2024.
As per CNN Business, the spokesperson of CVS Health confirmed the closure of its drug stores on Thursday, Jan. 11. It was said that the decision to stop its operations inside the Target outlets comes as retail pharmacy companies in the U.S. are faced with growing difficulties with their workforce, prescriptions business, and other aspects.
Schedule of the Pharmacy Shut Downs
The American retail pharmacy brand said it will close its stores in Target locations from next month until April this year. The company also said this is part of its strategy to spread out its stores and pharmacies even more. This information was shared with CNN through an email from CVS Pharmacy’s spokesperson, Amy Thibault.
The closing of the pharmacies is “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,” the spokeswoman said.
Select Locations are Affected
Forbes reported that only select locations of Target stores are losing their CVS Health outlets this year. Then again, the company did not mention specific locations for the shutdown. The company is currently operating around 9,000 stores across the country.
“The pharmacy closures will begin in February and be completed by the end of April and impacted employees will be offered comparable roles within the company,” CVS Health said in a statement. “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.”
Photo by: Marques Thomas/Unsplash
