CVS Introduces Smaller Pharmacy-Only Stores in Strategic Shift

The company plans to open at least 12 new small-format locations this year, focusing on healthcare services and reducing retail offerings.

CVS is launching a new store format less than half the size of its typical locations, featuring full-service pharmacies and limited over-the-counter products.
The smaller stores will not sell snacks, stationery, or beauty products, signaling a shift away from traditional retail operations.
This initiative aligns with CVS's broader restructuring efforts, which include closing over 1,000 stores since 2022 and laying off staff to address industry challenges.
The move comes as CVS and competitors like Walgreens and Rite Aid face growing competition from online retailers and rising operational costs.
CVS emphasizes a 'customized approach' to meet community-specific healthcare needs, with additional plans to open nearly 30 new pharmacy locations in 2025.