The move is part of the company's plan to close 200 stores nationwide. The company has not said which 10 stores will be closed, but the Monroe Drive store in downtown Atlanta has been closed.
The others include stores in the store at 690 N. Main and one at 10591 Old Alabama Road Connector, both in Alpharetta, GA and the store at 50 Powers Ferry Road in Marietta, GA, according to published reports.
The move is part of an ongoing effort by the 38-year-old firm to close stores that are part of strip malls and replace them with freestanding stores. CVS operates 280 stores in Georgia, and some 175 in metro Atlanta. CVS operates more than 4,000 freestanding and shopping-center-based stores.
"We believe that our relocation program offers a significant opportunity for future growth, as only 41% of our existing stores were freestanding as of Sept. 29, 2001," the company says in its quarterly report. "Our current long-term goal is to have 70-80% of our stores located in free-standing sites. We cannot, however, guarantee that future store relocations will deliver the same results as those historically achieved."
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