CVS, Walgreens, Rite Aid closing stores: a brick and mortar downfall? [FOX Business Network]
CVS Health Corporation (CVS)
Last cvs health corporation earnings: 2/12 06:45 am
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Source: FOX Business Network
It's a trend that Jonathan Palmer, senior health care analyst at Bloomberg Intelligence, projected will continue especially as the dependency on online services continues to grow. Just this week, Walgreens announced that it would close a "significant" number of under performing stores across the U.S. due to ongoing challenges with profitability and declining margins. Earlier this month, Rite Aid announced that 27 locations in Michigan and Ohio have been added to the growing number of stores it plans to close while it restructures under Chapter 11 bankruptcy. The initial list of store closures stood at 154 and has continued to grow throughout the bankruptcy proceedings which involves footprint optimization. In 2021, CVS announced that it was shuttering 900 of its 10,000 retail locations over a three-year period. CVS and Walgreens declined to comment on specifics of the closures. Rite Aid has not immediately responded to FOX Business' request for comment. Ticker Security
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News
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- The Schall Law Firm Is Probing Allegations Related To CVS Health Corporation And Encourages Its Investors To Participate In The InvestigationAccesswire
CVS
Earnings
- 5/1/24 - Miss
CVS
Sec Filings
- 6/20/24 - Form 11-K
- 5/23/24 - Form S-8
- 5/22/24 - Form 8-K
- CVS's page on the SEC website