Major Drugstore Chains Announce Extensive Store Closures

Walgreens, CVS, and Rite Aid to shut down thousands of locations due to financial struggles and evolving consumer habits.

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.