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<p><img class="aligncenter wp-image-1215 size-full" src="https://aleasdeals.com/wp-content/uploads/2020/01/cvs-deals.jpg" alt="" width="935" height="570" /></p>
<p>CVS Health said it will close approximately 900 retail stores to align to evolving consumer needs.</p>
<p>The drugstore retailer plans to shutter around 300 stores a year for the next three years, beginning in the spring of 2022. CVS has around 9,900 locations <a href="https://cvshealth.com/about-cvs-health/our-company-at-a-glance" data-feathr-click-track="true">currently</a>.</p>
<p>The move comes from the retailer evaluating changes in “population, consumer buying patterns and future health needs,&#8221; it said in a press release. It also noted it&#8217;s committed to offering impacted colleagues roles in other locations or opportunities, and that the store closures will cost the company between $1-$1.2 billion in the fourth quarter of 2021.</p>
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<p>While it will be closing stores, CVS Health will also develop new store formats to drive higher engagement with consumers, it said, as part of the company&#8217;s strategic review of its retail business.</p>
<p>Three distinct models will serve as community health destinations:</p>
<ul>
<li>Sites dedicated to offering primary care services.</li>
<li>An enhanced version of its HealthHUB locations with products and services designed for everyday health and wellness needs.</li>
<li>Traditional CVS Pharmacy stores that provide prescription services and health, wellness, personal care and other retail offerings.</li>
</ul>
<p>In connection with the changes announced, Neela Montgomery, currently EVP and president, CVS Retail/Pharmacy, has decided to leave the company. Montgomery will remain in her role until the end of 2021, ensuring a smooth transition of responsibilities.</p>
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