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For: The Opinion
Thursday, November 14
Rite Aid to close 63 locations across the United States to save 25 million by 2022
Rite Aid announced Tuesday that it will close 63 stores to save about $ 25, 000, 000 dollars a year. After years of excessive growth, Rite Aid and other pharmacy chains across the United States have faced adversities in their approach to business, resulting in has led them to close branches.
Despite the fact that the pandemic that has led more people to buy products from pharmacies, in recent For years the company has had to close branches because they are not profitable and because there are new consumer habits. So far, the company did not disclose where its branches will close .
According to CNN, Rite Aid aims to reduce operating costs as well as drive better profitability to ensure a solid foundation from which to grow. Rite Aid has approximately 2, 500 stores in 21 states , so closings represent only 2% of its retail operation.
According to the news outlet, Rite Aid has been remodeling some of its stores to focus on allocating more space for beauty and personal care items, thus weighing products such as vitamins and supplements. In contrast, it already allocates less space for household appliances and stationery.
All the major pharmacy chains in the United States have recently readjusted the presence of their stores. For example, CVS recognized that it has several stores that are too close to each other in some places and has therefore decided to restructure.
” The company has been evaluating population changes, consumer purchasing patterns and future health needs to make sure you have the right types of stores in the right locations for consumers and for the business, “CVS said in its statement.
For how is the competition in the pharmacy sector throughout the country, for some time, Fewer people go to make purchases at Rite Aid and prefer to go to other pharmacies to fill their prescriptions, as well as buy basic products for the home, among others things they buy.
Also, some shoppers have replaced their trips to stores like CVS or Rite Aid by buying, for example, your supplies online at Amazon or at large traditional retail chains like Walmart and Target. The chains have built their own strong e-commerce businesses in recent years.
You may also be interested in: Why CVS will close hundreds of pharmacies in the coming years