Drugstore company Rite Aid will be shutting down another 63 stores.
On Tuesday, Rite Aid announced that it would be closing the doors of another 63 stores in hopes of saving millions in the upcoming years. There are no details on what locations will be closed, but the company says it will help “reduce costs, drive improved profitability and ensure that we have a healthy foundation to grow from,” CNN Business reports.
In 19 states, Rite Aid has 2,500 stores, which would mean the company would lose about 2 percent of its retail profits, the news outlet reports. Reports also show that fewer propel are going to drug stores to get their prescriptions filled. Several people have opted to get their medications online through the use of big-name companies like Amazon, Target and Walmart.
KIRO 7 reports Rite Aid said, “the Company anticipates the number of closures to increase as it finalizes the review over the next several months.” CVS, another drugstore giant, recently announced plans to shut down 900 of its stores over the course of three years.
