CVS Health will close five of its pharmacy locations in New York in 2025. These closures are part of a nationwide plan to shut down 271 stores as the company works to adjust its retail strategy and better serve customers.
The move is the latest step in a company-wide effort to restructure its business and focus on long-term growth.
The New York locations impacted include two stores in Albany (153 Central Avenue and 1026 Madison Avenue), one in Manhattan (1241 Lexington Avenue), one in North Tonawanda (955 Payne Avenue), and one in Staten Island (1654 Richmond Avenue).
According to NY Post, these closures follow the elimination of approximately 900 CVS stores from 2022 through 2024.
CVS confirmed the decisions were made after considering several factors, such as local population trends, store density, and access to pharmacy care.
"We are strategically closing locations to better meet consumers' health, wellness, and pharmacy care needs," a CVS spokesperson said.
New York has seen a sharp decline in the number of drugstores in recent years, especially in urban areas like Manhattan. Retail theft, rising costs, and changes in consumer habits have contributed to the trend.
CVS is closing all Arkansas locations. Do you think Caremark is going to help out the remaining pharmacies or will they make life even harder just to prove a point? pic.twitter.com/eSozsnucW0
— Forest Park Pharmacy (@ForestParkPharm) May 28, 2025
CVS to Open 30 New Pharmacies Despite Nationwide Closures
While many stores are closing, CVS says it still plans to grow in other areas. The company expects to open 30 new pharmacy locations this year, including several inside Target stores. CVS currently operates about 9,000 locations nationwide.
This move is part of what the company describes as an "enterprise-wide restructuring plan" designed to simplify operations and save over $500 million annually.
CVS is also investing in new ways to serve customers, such as in-store clinics and digital health tools.
The pharmacy industry overall is undergoing big changes. Walgreens has announced plans to close over 1,200 stores in the next few years, starting with 500 closures in 2025, USA Today said.
Rite Aid, which filed for bankruptcy twice in less than two years, is also shutting down hundreds of locations and selling parts of its business.
CVS recently agreed to acquire over 600 Rite Aid pharmacies and dozens of full stores, pending court approval.
These changes reflect a shift in how people access pharmacy care, with more customers choosing digital options or combining pharmacy services with other healthcare needs.
Originally published on vcpost.com
