CVS to Close Some Pharmacies in Target Stores

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The closures are set to commence in February and are expected to conclude by the end of April.

CVS Health said on Thursday that it will close several pharmacies operating within Target stores, which will start at the beginning of the year, according to multiple reports.

The closures are set to commence in February and are expected to conclude by the end of April, CVS Pharmacy spokeswoman Amy Thibault told CNN.

Ms. Thibault said the decision to close the pharmacies was made based on the company’s “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.”

Prior to the closure, prescriptions from the affected pharmacies will be transferred to a nearby CVS Pharmacy, the spokeswoman stated.

It remains unclear how many stores will be closed and which Target locations will be affected following the announcement.

U.S. pharmacy chains, including rival Walgreens Boots Alliance, have been implementing cost cuts in an effort to tackle decreased spending by inflation-weary consumers and intense competition.

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Meanwhile, some employees at CVS and Walgreens pharmacies launched a three-day walkout on Oct. 30, 2023, over what they said was an attempt to get the companies to improve working conditions.

“Some of these stores are so grossly understaffed at the moment and just bogged down with not only prescriptions but the amount of immunization appointments and walk-ins that they’re expected to do,” Shane Jerominski, a former Walgreens pharmacist and one of the organizers of the walkout, said at the time.

The walkout could affect hundreds of CVS and Walgreens stores across the United States, Mr. Jerominski told other news outlets. Workers at CVS, Walgreens, and Rite Aid have pledged to call in sick for three days, he told Fox Business.

Mr. Jerominski said the organizers were also seeking better pay and more consistent hours for technicians, who locate, dispense, pack, and label prescribed medication for patients under the supervision of pharmacists.

Staffers at Walgreens and CVS carried out walkouts in multiple states in September and early October that reportedly shut down a small number of pharmacies. In response, Walgreens spokesman Marty Maloney told news outlets at the time that the impact of the walkouts was “minimal.”

“[A] small number of our pharmacies are experiencing disruptions, and we apologize for any inconvenience,” he said. “We are working to return these pharmacies to regular operations as quickly as possible. Nearly all of our 9,000 locations continue to serve our patients and customers.”

In 2015, CVS bought Target’s pharmacies and clinics in a $1.9 billion deal, adding about 1,660 pharmacies in the process.

Reuters and Jack Phillips contributed to this report.

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