A RIVAL to Home Depot has confirmed it will scoop of the space of a former CVS for its new location.
As CVS sees hundreds of closures, another has announced it is taking over another spot.
A rival to Home Depot has confirmed it will scoop of the space of a former CVS for its new location[/caption]
Ace Hardware has announced that it is opening up a new location in Plant City, Florida.
The Home Depot rival recently delivered an update to its awaiting customers that plans had been approved.
Last week, Ace Hardware announced on social media that it was confirmed for the area of Alexander in the city.
The caption of the Facebook post said: “Update…Our construction plans have been approved and submitted to the city for permitting.
“Once we have our permits, construction will begin.
“For those inquiring, the location is at 2302 James L Redman Parkway (the former CVS space) just north of Alexander.
“As we get closer, we will post updates and will be holding a hiring event for those interested in a great place to work where you can enjoy what you do!”
In April, Ace Hardware confirmed that it was planning its opening for August, but an exact date has not been confirmed yet.
That post said: “Your very own local Ace Hardware is coming soon to Plant City!
“Currently under construction and hoping to be ready for a Grand Opening in August.
“Follow our page for updates as we get closer to our opening date.”
CVS DOWNFALL
CVS has confirmed that it will be shutting down 271 locations in 2025.
The struggling pharmacy chain has shut 900 spots over the past three years.
Between 2022 and 2024, CVS wiped out the 900 locations from its nationwide footprint.
CVS closes 900 stores
CVS Health is finishing up its three-year plan to close 900 stores.
CEO Karen Lynch said it has shut down 851 so far, The Associated Press reported in August 2024.
The company announced the plan in November 2021, saying that the closures would lead to a retail presence that ensures it has the “right kinds of stores in the right locations for consumers and for the business,” per CNN.
The shutdowns amount to almost 10% of CVS’s footprint, in response to the shifting of “consumer buying patterns.”
The closures are part of a wider change in strategy of the company’s almost 10,000 locations.
Some stores have been removed to include more health services, such as primary care, and an “enhanced version” of CVS’s HealthHub layout.
“We remain focused on the competitive advantage provided by our presence in thousands of communities across the country, which complements our rapidly expanding digital presence,” Lynch said in 2021.
The shutdowns cost the company approximately $1 billion dollars in the fourth quarter of 2021, according to CNN.
The full list of the 271 CVS locations has not yet been released, but local news sources and Newsweek have locked in on about 39 spread across 17 states and Washington DC so far.
A spokesperson for the company said: “We’re focused on ensuring we have the right kinds of stores and the right number of stores in the right locations.
“We’re closing locations strategically to better meet consumers’
“At the same time, big rivals like Walgreens health, wellness, and pharmacy care needs — as announced more than three years ago —not in reaction to industry pressures.”
During this, CVS has also pledged to lower prices on prescriptions, amid its many closures.
CEO David Joyner said: “These entities remain the only part of the drug supply chain entirely focused on lowering costs.
“For more than three decades, PBMs have been a proven unequivocal mechanism to negotiate down the price of drugs for payers and consumers while promoting better adherence and better health.”
PBMs are companies that specifically act as managers of prescription drug benefits and work between manufacturers, insurers, and customers, per the Center for American Progress.
Ace Hardware has announced that it is opening up a new location in Plant City, Florida[/caption]
