The closures, which will occur in 15 states and the District of Columbia, will cost CVS a $135 million “store rationalization charge.” The stores will close throughout the second quarter.
CVS operates about 9,600 stores nationwide, so the cuts represent fewer than 1 percent of them.
“This decision was made after a thorough review of each store’s lease obligations and financial performance, among other factors,” a company spokesperson told Business Insider.
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