In November of 2021, CVS Health announced plans to close 900 stores over the next three years, amounting to roughly 10% of its total footprint. A month later, Rite Aid revealed similar plans to shutter 63 stores throughout the U.S.
If that news rattles you as an investor, you're in good company. But in reality, store closures aren't necessarily indicative of financial distress. In this day and age, they're more of a strategic decision that's a byproduct of shifting consumer patterns.
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Source Fool.com