Maybe the days of having a chain drugstore on every corner are coming to an end. CVS closed a store in New Jersey as part of its national strategy to reduce the number of stores it operates.
According to NJ.com, the closed store was in Metuchen, the only one in town. It was located on Pearl St. and closed last month.
RIS.com, a retail news site, said CVS plans to close 900 stores nationwide over the next three years to “keep up with changing consumer needs.” This represents about 10% of its brick and mortar locations. CVS operates approximately 100 stores in New Jersey.
In a statement, the company said its retail stores are still a significant part of its business.
“Our retail stores are essential to our strategy and to 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 growing digital presence. “
The other New Jersey stores on the chopping block have yet to be announced, but closings will be coming.
The views expressed in the above post are those of Bill Doyle, host of New Jersey 101.5 talk show only.
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