CVS to close about 900 stores in 3 years, record charge of up to $1. 2 billion

Published Nov 18 2021 at 2:16 PM GMT
  • CVS Health Corp said it will close about 300 stores a year for the next three years as it looks to reduce store density in certain areas, following an evaluation of changes in population and consumer buying patterns.
  • The drugstore chain's stock tacked on 0 3% in premarket trading.
  • CVS said earlier this month that it had more than 9,900 retail stores.
  • The company expects to record a impairment charge of $1.0 billion to $1.
  • As a result, the company cut its net earnings-per-share guidance range for 2021 to $5.46 to $5.



  • Published Nov 18, 2021 2:16 PM GMT