CVS opens smaller format stores as industry sees big shift
1. CVS is expanding smaller pharmacy-format stores to adapt to market changes. 2. The company plans to open at least a dozen new small-format pharmacies. 3. CVS continues traditional store openings but is also closing less profitable locations. 4. Competitors like Walgreens are reducing store numbers due to market pressures. 5. Consumer preferences are shifting towards price and convenience, impacting retail dynamics.