Pharmacy chain Walgreens has been on a tear of expanding its store offerings as of late, while competitor CVS recently announced a plan to close 900 stores over the next three years.
Walgreens has increasingly focused on smaller-format pharmacy-focused stores and has stated an ambitious goal of opening at least 600 primary care practices by 2025, a pivot into healthcare anchored by the company's majority investments in VillageMD and CareCentrix.
Conversely, in a November statement announcing the planned closures, CVS said it "will close approximately 900 stores over the next three years to reduce store density and ensure it has the right kinds of stores in the right locations for consumers and for the business."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
