Nationwide Closures Confirmed in Annual Report
CVS Pharmacy will close 271 retail locations across the United States in 2025 as part of its enterprise-wide restructuring initiative, according to its fourth quarter 2024 earnings release. The company confirmed the move in a recent SEC filing and said it will streamline operations and reduce costs through the closures.
Closures Follow Broader Strategic Review
CVS said the closures follow a strategic review of its retail business that identified underperforming or non-strategic locations for shutdown. From 2022 to 2024, CVS closed 900 stores and opened 100 new locations, according to Fox Business. The company aims to maintain efficiency and optimise its national retail footprint.
Company Spokesperson Outlines Closure Strategy
A CVS spokesperson said, “We’re focused on ensuring we have the right kinds of stores and the right number of stores in the right locations.” The spokesperson added, “We’re closing locations strategically to better meet consumers’ health, wellness and pharmacy care needs • as announced more than three years ago • not in reaction to industry pressures.”
Store Impairment Charge Impacts 2024 Earnings
In anticipation of the closures, CVS recorded a store impairment charge in 2024. This charge reflects the reduction in the value of store assets on the balance sheet. The charge reduced the company’s operating income for the year. The impairment was directly linked to the expected loss in value from the planned closures.
Key Factors Behind Store Closures
The spokesperson said CVS based its decision on several factors including “population shifts, consumer buying patterns, store and pharmacy density, pharmacy care access, and community health needs.” These factors guided the selection of the 271 stores for closure across the country.
Consumer Access to Pharmacy Services Maintained
CVS said 85 per cent of Americans will still live within 10 miles of a CVS Pharmacy following the closures. The company also confirmed it will open 30 new locations in 2025, including outlets within Target stores, as part of its broader retail strategy.
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Focus Shifts Towards Digital Health and Clinical Care
The closures reflect a broader shift in CVS’s business strategy. The company is focusing on digital health services and clinical care delivery. CVS said it aims to meet evolving consumer needs and adapt to changes in how people access pharmacy services.
List of Confirmed Store Closures Grows
CVS has not yet released a complete list of the 271 locations set to close. However, media outlets have confirmed several store addresses. Newsweek reported closures at the following locations:
• 9550 Allisonville Road, Indianapolis, Indiana
• 1000 S. Charles Street, Federal Hill, Baltimore, Maryland
• 7235 Wisconsin Avenue, Bethesda, Maryland
• 34 N. Cannon Avenue, Hagerstown, Maryland
• 3890 Phelan Blvd., Beaumont, Texas
More Locations Identified by Independent Sources
The Krazy Coupon Lady shared a more detailed list of expected closures across multiple states. Confirmed addresses include:
• 2901 Morgan Road, Bessemer, Alabama
• 3303 Clairmont Avenue, Birmingham, Alabama
• 499 Haight Street, San Francisco, California
• 1701 K Street, Sacramento, California
• 3090 S. Monroe Street, Tallahassee, Florida
• 13300 E. Colonial Drive, Orlando, Florida
• 2201 Edgewater Drive, Orlando, Florida
• 439 Highland Boulevard, Atlanta, Georgia
• 8639 S. Cicero Avenue, Chicago, Illinois
• 401 W. Armitage Avenue, Chicago, Illinois
• 2000 Skokie Valley Road, Highland Park, Illinois
• 2420 Lincoln Way, Ames, Iowa
• 215 Euclid Avenue, Des Moines, Iowa
Additional Closures in Multiple States
Further closures include:
• 55 Summer Street, Boston, Massachusetts
• 28774 Gratiot Avenue, Roseville, Michigan
• 27700 Harper Avenue, St. Clair Shores, Michigan
• 2435 Independence Avenue, Kansas City, Missouri
• 9433 Manchester Road, Saint Louis, Missouri
• 4531 Troost Avenue, Kansas City, Missouri
• 955 Payne Avenue, North Tonawanda, New York
• 153 Central Avenue, Albany, New York
• 1026 Madison Avenue, Albany, New York
• 1241 Lexington Avenue, New York, New York
• 1654 Richmond Avenue, Staten Island, New York
• 201 W. 4th Street, Winston-Salem, North Carolina
• 10825 Kinsman Road, Cleveland, Ohio
• 125 E. Main Street, Plymouth, Pennsylvania
• 10390 Willard Way, Fairfax, Virginia
Several Washington D.C. Stores to Close
CVS will also close several locations in Washington, D.C., including:
• 1117 10th Street NW
• 1100 4th Street SW
• 400 Massachusetts Avenue NW
• 1515 New York Avenue NE (Target location)
• 4500 Wisconsin Ave. NW (Target location)
• 7828 Georgia Ave. NW (Target location)
Closures to Roll Out Throughout 2025
CVS said the closures will take place gradually during 2025. The company said the changes aim to better align its services with consumer demand while continuing to maintain access to pharmacy care across the country.
