At this point, it feels like some popular, well-known store or restaurant chain is closing loads of locations each week. This has happened repeatedly over the years, so while it’s no longer shocking, it’s just nice to know what’s going on, especially if it affects you.

It all comes down to supply and demand, just like in this case.

According to The Sun website, CVS is back in the news for more closures while the consumer giant opens new locations.

CVS has been undergoing major restructuring since the pandemic. Since 2021, CVS has closed some 900 locations, with 270 more set for this year. Some employees are offered other locations to work, but for the most part, this has meant layoffs.

Since 2021, CVS has opened 100 new locations, though. According to The Sun, foot traffic, overlapping stores, and population changes have all played a major role in the restructuring.

Last year, CVS laid off nearly 3,000 people, mostly in corporate positions.

What did these closings save the company? A whopping $2 billion.

WHERE ARE THE CLOSURES AND OPENINGS HAPPENING

Transparency isn’t a big part of these current closings and openings right now.

Hopefully, that will change, so we have a heads-up. I remember stopping by a CVS Minute Clinic in the Boston area only to find out it had closed down without warning two days prior.

For now, we just know that some 270 CVS pharmacies will shutter this year while the company opens 30 new locations. Some of those new CVS’ will be inside Target stores.