It's hard to find a worse-performing sector in retail than pharmacy stores. From 2010 to 2021, nearly 30 percent of drug stores in operation had closed down, according to a study from Health Affairs. In addition, giant Rite Aid was forced to file for bankruptcy last year — but the worst might be finally behind the industry.
Ethan Chernofsky, SVP of marketing for Placer.ai, Tonya Creekmore, SVP, of national accounts at Brixmor Property Group, Meghann Martindale, principal, and director of market intelligence for retail at Avison Young, and Ian Schroeder, SVP for CBRE during a panel at ICSC New York 2024 discussed the turbulent trend.
WHY CLOSURES ARE HAPPENING
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