1250 ET - CVS Health seems to be gaining the most foot traffic from a bankrupt Rite Aid closing its stores around the country, according to a recent report from Placer.ai. Rite Aid saw visits fall more than 37% year-over-year in 1Q, while CVS simultaneously saw visits grow more than 5%. Walgreens Boots Alliance, which is also closing locations as it prepares to be taken private, logged a decline in 1Q visits. "As such, CVS appears to be the beneficiary of Rite Aid's demise," the report says. CVS is also planning to buy some Rite Aid assets and locations out of bankruptcy. (dean.seal@wsj.com)
(END) Dow Jones Newswires
June 04, 2025 12:50 ET (16:50 GMT)
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