CVS to close 900 stores

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norcalriteaidclerk
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Re: CVS to close 900 stores

Post by norcalriteaidclerk »

storewanderer wrote: February 15th, 2023, 9:28 pm
norcalriteaidclerk wrote: February 15th, 2023, 7:25 pm It was ignored by news reports,but the former orangevale Payless/Rite Aid/Long's has now disappeared.It recently was delisted from the official CVS locator and has already been marked as closed in both Yelp and Google Maps.It only got a cheapo Long's transition remodel (only the aisle markers and wall graphics,never got countertop checkouts or a single nanometer of the infamous carpet),and was showing signs of wear (clusters missing tiles)as evidenced by photos posted this past August by a Google Maps contributor.Can't determine whether the perimeter mirrors were original or were installed under Long's.Of the thirty something Payless locations that RAD sold to Long's in August 1999,that is the sixth that has ceased to operate as a drugstore,while San Jose prospect was merely replaced by a freestanding CVS nearby a few years ago.The only pharmacy left in orangevale proper is now the pharmacy inside that undersized Walmart supercenter across Hazel.

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What is the problem with that intersection at Orangevale? That Orangevale CVS/Longs/Payless was once a 24 hour store and a high volume operation. Walgreens had opened across the street and was also a 24 hour store and that store also closed some years ago. Wal Mart pharmacies aren't so high volume that they would take out what appeared to be good volume CVS and Walgreens units. It is like something really changed with traffic patterns in that area or prescription demand.
There were actually a number of other factors that dogged down this store:Orangevale has long been lower density compared even to other communities in northeastern Sacramento County.Additionally,volume began to slip once Longs acquired this location(it ceased to be 24-hours once it changed over),and the minimal capex under CVS reflected that it was no longer lucrative.Additionally,there are two other CVS locations within a 2-mile radius in either direction along Greenback as well as a couple of supermarket pharmacies(a long established Raley's as well as a Safeway that is less than 15 years old)at the Madison/Hazel intersection.

I must note that Carmichael Marconi(one of the earliest local Longs locations)didn't receive carpet when it was remodeled into Longs transition decor,but eventually did when it remodeled into the black and white decor.That is despite the fact that it has shorter hours than most local CVS locations.
For your life,Thrifty and Payless have got it.
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Re: CVS to close 900 stores

Post by storewanderer »

norcalriteaidclerk wrote: March 2nd, 2023, 11:22 pm
There were actually a number of other factors that dogged down this store:Orangevale has long been lower density compared even to other communities in northeastern Sacramento County.Additionally,volume began to slip once Longs acquired this location(it ceased to be 24-hours once it changed over),and the minimal capex under CVS reflected that it was no longer lucrative.Additionally,there are two other CVS locations within a 2-mile radius in either direction along Greenback as well as a couple of supermarket pharmacies(a long established Raley's as well as a Safeway that is less than 15 years old)at the Madison/Hazel intersection.

I must note that Carmichael Marconi(one of the earliest local Longs locations)didn't receive carpet when it was remodeled into Longs transition decor,but eventually did when it remodeled into the black and white decor.That is despite the fact that it has shorter hours than most local CVS locations.
I also guess Wal Mart and WinCo in Orangevale probably killed that Lucky/Payless shopping center off. It was high traffic through the 90's and 00's but then when Wal Mart and WinCo opened and Save Mart was running the expanded/major remodeled by Albertsons Lucky (one of few stores in NorCal that Albertsons expanded/did a major remodel to) into the ground, the entire shopping center just sort of fell off.
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Re: CVS to close 900 stores

Post by norcalriteaidclerk »

This closure can be blamed on the midtown/downtown Sacramento real estate gold rush rather than performance.

This store operates out of a vintage 1946 building.It presumably went through a number of tenants before Longs Drugs acquired the building in the early 2000's:Longs opened its first(and only)store in the central grid in 2003.It has a smaller footprint than a typical full sized Longs though it was never signed as 'Longs Pharmacy' like such other small format Longs locations.The nearby mini-Target(housed in a former OfficeMax)has maybe been open a couple years.Walgreens on 1401 Broadway will soon the lone chain pharmacy within the central grid given that Rite Aid has systematically eliminated its presence within the downtown/midtown grid.
For your life,Thrifty and Payless have got it.
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Re: CVS to close 900 stores

Post by mburb1981 »

Another Michigan closure to report: 26101 Eureka in Taylor closed within the past month, leaving the entire city with just two locations on opposite ends of town (one of which is a Target location). The previous Taylor CVS closure at Goddard/Pardee is becoming a Dollar Tree, and the former downtown Wyandotte CVS just reopened as a Dollar General.
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Re: CVS to close 900 stores

Post by storewanderer »

Heard CVS is trying a new thing in closing stores where they do a liquidation sale where most items are 60% off in the couple weeks before the store closes.

Previously they kept running the normal ad until the last day and let stock go down, then at the end, whatever was left, they just sent everything back to the warehouse.
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Re: CVS to close 900 stores

Post by BillyGr »

storewanderer wrote: June 19th, 2023, 10:38 pm Heard CVS is trying a new thing in closing stores where they do a liquidation sale where most items are 60% off in the couple weeks before the store closes.

Previously they kept running the normal ad until the last day and let stock go down, then at the end, whatever was left, they just sent everything back to the warehouse.

Sort of surprising that they didn't do that previously, like many closing stores would do (including the Rite Aid conversions to Walgreens, though they only put some items on markdown and added more/increased discount each week).
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Re: CVS to close 900 stores

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For your life,Thrifty and Payless have got it.
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Re: CVS to close 900 stores

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Pretty interesting that both Rite Aid and CVS failed at that very busy intersection. Kind of makes me wonder how that Safeway is doing. I thought it did fine.

Also kind of funny both Rite Aid and CVS are still open pretty close together over on Foothills but that must just be a better location.

CVS really needs to do either do major remodels of these Longs Stores or close them. Around Reno they've gone and done the re-carpet/repaint in the past year or two on all of them. Those freshen them up for a year or so then they go back to their grungy smelly old Longs-self.
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Re: CVS to close 900 stores

Post by mburb1981 »

Another Michigan CVS closure is about to occur: West/Grange in Trenton will close on September 18, with prescriptions to be transferred to the Fort Street/King location, which will become Trenton's only remaining CVS store. The West/Grange location was one of several Arbor locations that opened after they were bought out by CVS, and so opened with Arbor signage for a short time before they were swapped out with CVS ones.
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Re: CVS to close 900 stores

Post by storewanderer »

CVS is laying off 5,000 employees at the corporate level.

It is not clear if this is really the corporate supporting of stores side of the business or the Caremark side of the business. So can't read much into it without knowing what areas of the business are impacted. But they did clarify it isn't customer facing positions impacted so clearly not at the store level itself.
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