SIGforum
CVS to close 900 stores over next 3 years.

This topic can be found at:
https://sigforum.com/eve/forums/a/tpc/f/320601935/m/1440009684

November 19, 2021, 06:18 AM
spunk639
CVS to close 900 stores over next 3 years.
Wonder how many are Democrat inner city stores?

The new prosecutor mantra of not prosecuting shoplifting has paid off.

https://whdh.com/news/900-cvs-...e-over-next-3-years/
November 19, 2021, 06:42 AM
Oz_Shadow
I’ve always wondered how they decided on locations. Seems like they are always opposite a Walgreens, cutting business in half.

Now look at Dollar General. You drive along in the middle of nowhere and boom! There’s a Dollar General. No competition. Maybe no customers either.
November 19, 2021, 06:47 AM
Graniteguy
Good for CVS. Place your stores in areas where people actually pay for your products and your employees don't have to deal daily with shoplifting, robbery and meth heads locking themselves in the bathrooms.
November 19, 2021, 08:00 AM
selogic
CVS is getting into the Walk In Clinic business in a big way . There's one in town that I have used several times for Flu shots and my Shingles vax . They offer all sorts of services .
November 19, 2021, 08:13 AM
trebor44
One has to wonder about the decision to model a 'drug' store to emulate Walmart! Groceries in a drug store! Really! Why? Inquiring minds want to know and it is not clickbait! Who's the MBA that came up with that "IDEA"?


--------------------------------

On the inside looking out, but not to the west, it's the PRK and its minions!
November 19, 2021, 08:24 AM
bdylan
The Dollar stores stumbled on an effective strategy of positioning themselves between population centers and Wal-Marts...modern convenience stores.
November 19, 2021, 08:27 AM
Underdog
Dollar General is Walmart's No.1 competitor.

They have more square footage of sales space than Walmart last I checked.

They also are as bad or worse for the mom and pop stores. As was said, they target the rural spaces and if you look around you'll usually see a private business that's tits up by a Dollar General.
November 19, 2021, 08:30 AM
ZSMICHAEL
CVS since its merger with Aetna is trying to move into the healthcare business with their own Doc in a Box. Similar to the Minute Clincs in Walmart.

No thanks. I would prefer continuity of care with a physician I know and trust. I see how these clinics would work with Millenials and those that are traveling. Slightly upscale from Walmart.
November 19, 2021, 08:38 AM
Graniteguy
quote:
Originally posted by trebor44:
One has to wonder about the decision to model a 'drug' store to emulate Walmart! Groceries in a drug store! Really! Why? Inquiring minds want to know and it is not clickbait! Who's the MBA that came up with that "IDEA"?


My niece is a CVS GM/DM in MA. The markup vs. traditional grocery stores on the items they carry is significant. And it sells. Their end-cap set ups along the route to the pharmacy turn over weekly.
November 19, 2021, 08:43 AM
HRK
Pharma is a big drive for many retail operations, Publix for example, lots of people get scripts there and shop around while waiting, they have competitive prices on medicines. Wal-Mart, Costco, et al low cost Pharma,

Always joked that Costco had the most expensive free prescriptions, zero for the script and $300 for the cart full of crap...
November 19, 2021, 08:47 AM
RogueJSK
quote:
Originally posted by Oz_Shadow:
Now look at Dollar General. You drive along in the middle of nowhere and boom! There’s a Dollar General. No competition. Maybe no customers either.


Dollar General has plenty of customers. They are very strategic about positioning their stores to monopolize rural areas without easy access to other stores, and in more built up areas to make themselves the more convenient option compared to a larger grocery store that's just a little further away.

They fill a sort of halfway niche between having more stuff than a gas station/convenience store but not as much as a full-blown grocery store/big box store. And for a large chunk of their stores, they represent the only halfway decent option for basic groceries for the entire surrounding rural area.
November 19, 2021, 08:55 AM
BamaJeepster
Amazon Pharmacy



“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence.”
- John Adams
November 19, 2021, 10:08 AM
divil
Closing 900 stores that is proof of building back better!
November 19, 2021, 10:13 AM
BBMW
My guess is they just overextended. I have three CVSs within a five minute walk.
November 19, 2021, 12:02 PM
sig sailor
In our area there is a CVS every couple of blocks it seems. Never understood being in competing against yourself.
Rod


"Do not approach a bull from the front, a horse from the rear, or a fool from any direction." John Deacon, Author

I asked myself if I was crazy, and we all said no.
November 19, 2021, 12:12 PM
nhtagmember
Didn’t Walgreens buy CVS a few years ago it was it the other way around?

Some of the store closures might be due to market saturation in some areas, may have to do with consolidation. I’m willing to bet that some of the closures might be due to high operating costs, low profit and poor locations. But not all.
November 19, 2021, 12:26 PM
BBMW
No, I think they're still separate.

quote:
Originally posted by nhtagmember:
Didn’t Walgreens buy CVS a few years ago it was it the other way around?

Some of the store closures might be due to market saturation in some areas, may have to do with consolidation. I’m willing to bet that some of the closures might be due to high operating costs, low profit and poor locations. But not all.


Squeeze out the competition, then cut expenses once there's no one to compete against in a particular area.

quote:
Originally posted by sig sailor:
In our area there is a CVS every couple of blocks it seems. Never understood being in competing against yourself.
Rod

November 19, 2021, 12:37 PM
686Owner
quote:
Originally posted by nhtagmember:
Didn’t Walgreens buy CVS a few years ago it was it the other way around?

Some of the store closures might be due to market saturation in some areas, may have to do with consolidation. I’m willing to bet that some of the closures might be due to high operating costs, low profit and poor locations. But not all.


Walgreens bought Rite Aid. CVS is a different company.

Walgreens operated on something like 3% net profit when I worked for them. If real estate costs are going up, shipping costs are going up, wages are going up, and sales are going down, I expect Walgreens to follow with some closures soon as well.
November 19, 2021, 01:39 PM
PASig
Everything at CVS is way overpriced. Every. Thing.

I'm shocked they've lasted as long as they have putting CVS's on every corner, around here you can't go 3 blocks without seeing one and I don't get it.

My company switched from Express Scrips a few years ago to CVS "Care"(HA) Mark and prescription prices tripled and even quadruped overnight. Roll Eyes

In closing...Fuck CVS


November 19, 2021, 01:47 PM
PowerSurge
^^^Same here. Everyday over-the-counter drugs are around 33 percent higher than the DG next door. I’m surprised they’re still in business at all.


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The fool hath said in his heart, There is no God. Psalm 14:1