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Real-Estate Downsizing Finally Comes for Your Pharmacy

Posted on AllSides May 21st, 2024
From The Center
MICHAEL NOBLE JR. FOR THE WALL STREET JOURNAL

National drugstore chains, once resistant to the retail apocalypse that swept across the U.S., are finally succumbing to competition from online shopping and discount stores.

About 3,000 fewer drugstores were open for business at the start of this year compared with the same period in 2019, according to analytics company RetailStat, which tracks 15 pharmacy chains. 

CVS Health, Walgreens and Rite Aid have each closed hundreds of stores since the onset of the pandemic. Online shopping has been growing and offers customers a more convenient way to buy household staples. 

Competition has also increased from discount...

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https://www.wsj.com/business/retail/real-estate-downsizing-finally-comes-for-your-pharmacy-03cb13eb

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