CVS closes one New Jersey store, more closings are expected
Maybe the days of having a chain drugstore on every corner is coming to a close. CVS has closed one New Jersey location as part of their nationwide strategy of trimming the number of stores it operates.
According to NJ.com, the closed store was in Metuchen, the only one in the town. It was located on Pearl St. and closed last month.
RIS.com, a retail news site, said that CVS is planning on closing 900 stores nationwide over the next three years to “align to evolving consumer needs.” That represents about 10% of its brick and mortar locations. CVS operates around 100 stores in New Jersey.
In a statement, the company said that its retail stores were still an important part of the company’s business.
“Our retail stores are fundamental to our strategy and who we are as a company," said Karen S. Lynch, president and CEO of CVS Health. "We remain focused on the competitive advantage provided by our presence in thousands of communities across the country, which complements our rapidly expanding digital presence."
The other New Jersey stores on the chopping block haven’t been announced yet, but the closures will be coming.
Opinions expressed in the post above are those of New Jersey 101.5 talk show host Bill Doyle only.
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