Is Yours Next? CVS Closes Busy NJ Store, Rite Aid to Follow the Trend – wpgtalkradio.com
As the retail landscape continues to get tougher and tougher, a national pharmacy chain has closed one store in the Garden State and many more could soon follow.
As reported by NJ.com, CVS has recently closed its store on Pearl Street in Metuchen — and that might be just the beginning.
Late last year, CVS announced that they were closing as many as 900 stores over the next three years as a way to reduce its physical footprint while focusing, "more of its efforts on digital growth and turning its stores into destinations that offer a range of health-care services, from flu shots to diagnostic tests," according to CNBC.
Meanwhile, within the past few weeks, Rite Aid announced plans to close 63 stores this year as a way of saving about $25 million annually. CNN reports those 63 closures represent only about two percent of the company's locations.
Why the closures? Simply put, more people are getting prescriptions filled online and visiting with their doctor virtually, which is changing the landscape for pharmacies.
Details on any more store closures in the Garden State between CVS and Rite Aid have not been announced.