- CVS Health closed 46 underperforming stores in 16 states in April, the company told Business Insider.
- The pharmacy chain, which is the largest in the US, has more than 9,900 stores.
- CVS announced the closings as it reported a 35% year-over-year increase in first-quarter revenues to $US61.6 billion.
- Visit Business Insider’s homepage for more stories.
CVS Health closed 46 stores across 16 states in April, the company told Business Insider on Thursday.
“This decision was made after a thorough review of each store’s lease obligations and financial performance, among other factors,” a company spokesperson said.
The company said customers’ prescriptions have been transferred to nearby CVS Pharmacy locations and that it is working to place affected employees at other stores.
In regulatory filings, CVS said it made the decision to close underperforming locations as part of a “store rationalization” plan.
“During the three months ended March 31, 2019, the company performed a review of its retail stores and determined it would close 46 underperforming retail pharmacy stores during the second quarter of 2019,” the company said.
The closings represent a small percentage of CVS stores, which totaled more than 9,900 locations as of March 31.
The company said the closings would cost about $US135 million.
CVS first disclosed plans to close 46 stores on Wednesday, as it reported a 35% year-over-year increase in first-quarter revenues to $US61.6 billion.
“We generated strong first quarter results, providing positive momentum to start the year,” Larry Merlo, CVS’s president and CEO, said in a statement. “Following the close of our Aetna acquisition in late November, our first full quarter of combined operations was a success in many ways. In the quarter we continued to advance our integration efforts while beginning to launch new innovations such as our HealthHUB concept stores.”
USA Today’s Nathan Bomey obtained the following list of most of the closed stores. CVS declined to comment on the list.
3115 Bob Wallace Ave. SW, Huntsville, Alabama
664 Schillinger Road S., Montgomery, Alabama
2815 Low Wetumpka Road, Montgomery, Alabama
7434 W. Indian School Road, Phoenix
3130 Buchanan Road, Antioch, California
1285a Sutter St., San Francisco
995 Market St., San Francisco
9375 San Fernando Road, Sun Valley, California
1201 Maryland Ave. SW, Washington, DC
402 N. Maryland Ave., Wilmington, Delaware
1350 Beville Road, Daytona Beach, Florida
13991 N. Cleveland Ave., North Fort Myers, Florida
1607 S. Pine Ave., Ocala, Florida
3168 Northlake Blvd., Palm Beach Gardens, Florida
1441 Kapiolani Blvd. Suite 510, Honolulu
1401 S. Beretania St. Suite 110, Honolulu
745 W. 103rd St., Chicago
175 W. Jackson Blvd., Chicago
1620 W. 59th St., Chicago
1550 N. Kostner Ave., Chicago
7179 N. Lincoln Ave., Lincolnwood, Illinois
1015 W. Orchard Road, North Aurora, Illinois
100 W. Higgins Road, South Barrington, Illinois
123 Windermere Ave., Greenwood Lake, New York
812 Forest Ave., Staten Island, New York
10301 Woodward Ave., Detroit
7996 Brooklyn Blvd., Brooklyn Park, Minnesota
1110 Hennepin Ave., Minneapolis
2426 W. Broadway Ave., Minneapolis
1735 South Glenstone Ave., Springfield, Missouri
7105 Central Ave. NE, New Mexico
1454 Central Blvd., Brownsville, Texas
1407 E. W. Hwy 190, Copperas Cove, Texas
2525 N. Mesa St., El Paso, Texas
3080 S. Fry Road, Katy, Texas
4730 US Route 5, Newport, Texas
5322 E. US Highway 83, Rio Grande City, Texas
7031 Marbach Road, San Antonio
6945 Cypresswood Drive, Spring, Texas
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