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Wal-Mart Stores, Inc. (NYSE: WMT) made a splash in recent years by opening health clinics in its Supercenter locations to give those who could not afford medical insurance a cheap way to get medical services. As always, though, the retailer hoped that those who visited in-store clinics would hang around and do some shopping as well.
In 2008, retail clinics have seemed to shut their doors in states like New York, Nevada and Indiana. Overall, 69 clinics in 15 states have given up the ghost, including those located inside Wal-Mart stores.
What's going on here? Is the strategy backfiring? Even one of the largest proponents of in-store retailer clinics, CVS Caremark Corp. (NYSE: CVS), indicated that it is slowing down its retail in-store clinic plans.
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