Overview

• Walgreens plans to close around 2,150 stores, representing 25% of its U.S. locations.
• Rite Aid will reduce its footprint from 2,000 to 1,300 stores following bankruptcy proceedings.
• CVS has already closed hundreds of stores and plans to shutter more.
• Factors include corporate mismanagement, inflation, and competition from online retailers.
• Retail crime and changes in pharmacy benefit management also contribute to declining profitability.