CVS has announced plans to close one more of its more than 9,000 stores as the company and other retailers shift strategies in a tough sales environment.
The Farmington Avenue store in West Hartford, Connecticut, will close permanently on September 20, 2023.
While this is the only planned store closure in Connecticut, the company will close about 900 stores nationwide as part of a new cost-cutting strategy.
CVS decided to switch gears and begin focusing on operations in the healthcare sector rather than retail.
Long-time customers of this Connecticut store are frustrated that the store is no longer there.
a customer spoke Fox 61 “It’s a real shame because this place is like our pharmacy. We walk past it every day,” she explained.
For her, it’s more than just a store. “We always go shopping for whatever we can get our hands on. It’s a fun activity for dogs too. It’s dog friendly.”
Another described her emotional attachment to the place as follows: “I have a warm place in this building and I hope they do something good with this building.”
Existing customers will have to travel farther to find the CVS location to fill their prescriptions and will have to transfer the script by the closing date. Otherwise, you will automatically be moved to the South Main Street location.
Residents’ access to healthcare was a factor, according to the chief communications director. Amy Thibaud: “Maintaining access to pharmacy services in the areas we serve is an important factor we consider when making store closure decisions.”
“Other factors include local market trends, demographic changes, community store density, and availability of other geographical access points to meet community needs.”
The closure comes after five other stores across the country have recently closed.
The closure isn’t just for CVS, competitor Walgreens made a similar decision in July.
Walgreens made the decision to close 200 stores in 2019 and doubled down on its decision to close another 150 stores in 2023.
It’s not yet clear which Walgreens stores will close, but the decision is likely due to earnings volatility.
Walgreens Boots Alliance CEO Roz Brewer said: “Our performance in the third quarter did not meet our overall expectations and we regret that we have had to revise our outlook for 2023.”
Another rival drugstore is also shutting down after 2021, closing 150 stores.
A Rite Aid spokesperson told The Sun newspaper, “The decision to close the store is taken very seriously by our company, and we are evaluating our business strategy, leasing and rent considerations, the financial health and viability of the area, and the performance of the store. It’s based on a variety of factors,” he said.
“Whether it’s Rite Aid or a nearby pharmacy, we are investigating every region to ensure that our customers have access to medical services and are working to ensure seamless prescription transfers for uninterrupted service.”
