From Fox News:
CVS Health announced in November that it planned to close around 9% of its nearly 10,000 locations, with further closures of 300 stores each year for the next three years. Rite Aid also said it would close 63 stores in order to reduce costs and boost profits.
CVS specifically noted that a shift to digital preferences by most customers motivated the company to reconsider its physical presence.
The New York Times reported that CVS will “remake” remaining locations to focus more explicitly on health as well, with some locations serving as primary care service hubs.
“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,” said CVS Health President and CEO Karen Lynch.
Read the full report at Fox News.
CARTER 2.0: Southeast Gas Stations Ration Fuel, Cars Line-Up, Drivers Wait for Hours
Americans in the southeastern section of the country had flashbacks of the 1979 Oil Crisis this week when gas stations began rationing fuel in the aftermath of a major cyberattack against a pivotal pipeline.
“The closure of the 5,500-mile Colonial Pipeline, which carries more than 100 million gallons of fuel from Texas to New Jersey each day, has stretched into its fifth day,” reports the New York Post.
“It sparked wild scenes of panic buying across Georgia, Florida, Virginia and South Carolina — with North Carolina Gov. Roy Cooper and Georgia Gov. Brian Kemp even declaring states of emergency in their areas. Kemp also issued an executive order suspending Georgia’s gas tax through Saturday to help offset the costs of higher fuel prices,” adds the newspaper.
“I DON’T HAVE ANY GAS AND THE STATE OF NORTH CAROLINA DOESN’T HAVE GAS!! WHAT IN THE 2021 IS GOING ON !!” one panicked driver tweeted.
“I’ve seen all these cars waiting and I was like, ‘OMG. I have to fill my tank up!’” said another.
Read the full report at the New York Post.
CARTER 2.0? Gas Runs Dry After Pipeline Cyberattack, Long Lines in NC, SC, FL, VA
A cyberattack against a major energy pipeline along the East Coast caused fuel shortages in states like Florida, Virginia, and South Carolina Tuesday as security experts scrambled to get the key piece of infrastructure back online.
“Drivers along parts of the East Coast are feeling the immediate effects of the shutdown of the Colonial Pipeline following a ransomware attack, reports CBS News’ Laura Podesta. Some waited an hour or more on lines at gas stations before filling up or learning the pumps had run dry,” reports CBS News.
— Chaunte' Turner (@ChaunteLive5) May 11, 2021
“It was unbelievable. When I was driving today, I thought it was a catastrophe coming! I’ve seen all these cars waiting and I was like, ‘OMG. I have to fill my tank up!’” said one local in South Carolina.
Gas prices jumped six cents within 24 hours, raising the national average to nearly $3 per gallon.
“If this outrage goes past the end of the week … prices could spike pretty dramatically,” said Kevin Book of Clearview Energy Partners.
Read the full report here.