CVS Pharmacy, a familiar presence in the US, will close 900 underperforming stores over three years to boost profits.
The move is aimed at shifting focus towards healthcare services, including HealthHUBs and Minute Clinic locations, catering to affordable healthcare needs.
About 10% of its 10,000 stores will be shut, 300 annually.
CVS aims to relocate affected staff and acknowledges the significance of its physical stores alongside expanding digital presence.
Industry experts view this move as rectifying past neglect, as CVS lost customers due to unappealing store conditions.
Proper investment in both retail and healthcare services is vital for its future success.