CVS is planning to close dozens of pharmacies inside Target stores this year, The Wall Street Journal reported Jan. 11.
The store closures will occur between February and April, accounting for a small portion of CVS' 1,800 Target locations. Affected employees will be offered other roles at the company.
The move comes as the pharmacy chain aims to reduce its retail footprint "based on our evaluation of changes in population, consumer buying patterns and future health needs," a CVS spokesperson told the Journal.
In 2021, the company shared plans to close about 900 of its more than 9,000 locations through 2024. CVS bought the pharmacy business from Target in 2015 for about $1.9 billion.