Morning Business Report: America’s drugstore chains are shrinking
Some of the biggest names in American pharmacy are shrinking fast.
(LILAMAX)-CVS is closing 900 stores, and Walgreens plans to shutdown 1,200 locations, eliminating roughly 1 in 7 of its stores. Rite Aid, once a major player in the industry, now operates around 1,200 stores — nearly half as many as just two years ago — and has sold most of its pharmacy services to competitors including CVS, Albertsons, Kroger, and…