CVS to close 900 stores

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Re: CVS to close 900 stores

Post by Romr123 »

Not that worked up over in-fill drug stores closing in cities like Detroit--as stated there's a CVS one mile east in one of the Grosse Pointes, another two miles west near Rivertown and a third a mile further west inside the RenCen (tbh this one would also likely be at risk, as it relied upon a full-employment RenCen).
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Re: CVS to close 900 stores

Post by mburb1981 »

Romr123 wrote: August 19th, 2022, 10:47 am (tbh this one would also likely be at risk, as it relied upon a full-employment RenCen).
A month later and...indeed the RenCen CVS is closing, on October 20. This leaves just one CVS left in downtown Detroit, on Woodward at Campus Martius (in fact, that location will be receiving prescriptions from the RenCen store).
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Re: CVS to close 900 stores

Post by Bagels »

mburb1981 wrote: September 30th, 2022, 11:16 am
Romr123 wrote: August 19th, 2022, 10:47 am (tbh this one would also likely be at risk, as it relied upon a full-employment RenCen).
A month later and...indeed the RenCen CVS is closing, on October 20. This leaves just one CVS left in downtown Detroit, on Woodward at Campus Martius (in fact, that location will be receiving prescriptions from the RenCen store).
Probably has a lot to do with most of Downtown Detroit working from home, with no end in site. All of the RenCen’s largest tenants are WFH, which has lead to most of its retail outlets closing. Sad, too, because the food court had a pretty solid selection of tenants and great pricing.
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Re: CVS to close 900 stores

Post by storewanderer »

Bagels wrote: October 1st, 2022, 1:41 pm
Probably has a lot to do with most of Downtown Detroit working from home, with no end in site. All of the RenCen’s largest tenants are WFH, which has lead to most of its retail outlets closing. Sad, too, because the food court had a pretty solid selection of tenants and great pricing.
This is why the banking industry is pushing so hard to get people back to offices. They have a lot riding on the inflated real estate values of downtown real estate in many cities. Dimon was on the pipe again this week talking about how they need to get people back to the office, etc. GM came out and asked for three days a week in the office and got such an employee backlash they had to walk back the demand. Clearly the banking industry has a lot on the line and stands to lose big time with these downtowns no longer having such a high real estate value anymore with the various office workers not present. Elon seems to be on the pipe too about this topic though I am not sure how return to office benefits his company.

At the end of the day I think companies should be figuring out how to make "work from home" work, this "eventually everyone in the office every day again" thing that keeps lingering isn't doing anyone any good.
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Re: CVS to close 900 stores

Post by norcalriteaidclerk »

A quiet below the radar closure in Stockton (may have been earlier in the year based on the final google maps review).The former Long's at 5070 West Lane was a Long's museum to the very end retaining mid 2000's Long's Wellness decor(not to be confused with the 2010's RAD interior decor packages)with CVS stickers on the aisle markers (covering Long's logos)and not one millimeter of the infamous carpet.It was also the only Stockton Long's location not to be replaced by a freestanding CVS (Pacific Avenue and quail lakes were both relocated circa 2012).Given the CVS juggernaut traditionally devotes higher capex budgets whenever acquiring smaller chains I wonder how much of a dog this location was as even the center was enough of a dive considering the s-mart turned save Mart despite getting updated signage has also closed as well.This center (the Village at Weber Ranch)only dates from 1990.

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Re: CVS to close 900 stores

Post by storewanderer »

I am really surprised they did not remodel or close sooner. Stores not remodeled were slated for relocation. My suspicion is this store had a relocation slated then it fell through, but typically when that happened, they did go through and do a remodel later.

This closure must have been planned for many years. The shopping center has traffic... or had. Save Mart had some traffic there but it was a pretty sad store (only Save Mart I ever saw with hot chinese food, a holdover from when it was a Lucky, also only Save Mart I saw where service deli was a kiosk in the middle of the sales floor area, another holdover from when it was a Lucky. When WinCo opened nearby and then Wal Mart Neighborhood Market across the street, it really hurt this center. This center also seems to have a loitering problem and my last few trips there were when S-Mart was open and I was definitely more aware of my surroundings than I was in the past. I actually did not go to the Popeyes as I did not feel safe walking between the S-Mart and the Popeyes during the middle of the day (too much loitering in the center). Then when I drove by the Popeyes I was panhandled by two different people before entering so I just left.

Also there is a newer Rite Aid near the center (never seems to have much going on... Customer World Store...). Completely different atmosphere there, nice store.

There is still one Longs interior left (same as the Roseville Rite Aid closed store) at 3251 Stanford Ranch in Rocklin.

I am starting to wonder if we are seeing random CVS/Rite Aid closures to enable CVS to take over what is left of Rite Aid out west without having to do a bunch of divests...
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Re: CVS to close 900 stores

Post by norcalriteaidclerk »

There's also that location on the swc of the Westfield Valley Fair property that was the drugstore half of a vintage Safeway-super s combo(still has mid-2000's Long's Wellness decor without even a nanometer of the infamous carpet).The Safeway next door has mid-1990's decor.Plans to replace both stores as part of a future Valley Fair expansion have yet go beyond the planning stage.

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Re: CVS to close 900 stores

Post by storewanderer »

norcalriteaidclerk wrote: November 9th, 2022, 7:19 pm There's also that location on the swc of the Westfield Valley Fair property that was the drugstore half of a vintage Safeway-super s combo(still has mid-2000's Long's Wellness decor without even a nanometer of the infamous carpet).The Safeway next door has mid-1990's decor.Plans to replace both stores as part of a future Valley Fair expansion have yet go beyond the planning stage.

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That is a really run down complex there. I cannot believe the redevelopment has been stalled for close to 20 years. Obviously both stores are either very profitable or on a very long term lease...

I wonder if either store has self checkout... the Safeway reviews are confusing as some mention self checkout, some complain there is none, and I can't correlate the dates. So it may have recently added self checkout. Easy enough to move those elsewhere once the redevelopment occurs. The Safeway appears to be holding up better than I would have expected it to but is obviously not in good condition.

The CVS looks really, really bad.
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Re: CVS to close 900 stores

Post by norcalriteaidclerk »

If fairly recent interior pics posted by a Google maps contributor (posted no later than August)are of any indication, I would find it very interesting if the orangevale store remains in business at this point a couple years from now: not only has it received minimal capex under CVS (only updated wall graphics and aisle markers without a single nanometer of the infamous carpet, traditional checkstands are presumably also intact),but it appears to have gotten even less capex under first RAD and then Long's (many fixtures remaining intact from Payless,the least of which the floor which is now missing tiles).I can't determine whether the perimeter mirrors were original as I don't remember whether they were regularly found in Payless Drug locations.I wouldn't doubt it if the Sunrise Village RAD outlasts this barn.

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Re: CVS to close 900 stores

Post by storewanderer »

CVS has completed another batch of remodels around Reno. Now every store has been remodeled to the white wall-black department sign interior with the exception of the store in Sun Valley (former RA1) which still has the CVS Longs Conversion era interior.

What is interesting in this last batch of remodels they did not update any exterior signs to have the heart logo as they had been doing on the previous batch of remodels they did a couple years ago.
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