CVS to close 46 underperforming stores

CVS Health is closing 46 stores it said are underperforming, according to Business Insider.

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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