CVS Health news

26 July 2022
CVS Pharmacy is piloting a new shop-in-shop beauty experience, Skin Care Center. The format offers innovative and personalised skincare solutions that use advanced diagnostic tools and experiential education. Trialing a shop-in-shop format The retailer is piloting the new shop-in-shop format in three CVS locations. The stores feature a whole range of skincare beauty products. The new...
26 November 2021
CVS Health plans to close 900 stores in the next three years as it looks to boost its online business and transform its stores into healthcare destinations. Plans to close nearly 10% of its store network In response to ‘ changes in population, consumer buying patterns and future health needs’ , CVS Health has reviewed its store model to ensure it has the right type of stores, in the righ...
02 June 2021
CVS Pharmacy has launched more than 150 new products under its private label brands in the grocery, beauty, and wellness categories. Listening to customers to meet their needs in new ways The US-based drugstore operator launched more than 150 products under its Gold Emblem and Gold Emblem Abound Food brands, Live Better by CVS and a newly launched men’s skincare and grooming brand, Goodlin...
27 May 2021
CVS Health released positive first quarter results and announced plans for its Beauty Mark initiative, which is aimed at boosting positive self-image and beauty inclusivity. Subdued growth for Retail/LTC segment compared to other segments Total revenue across all segments increased by 3.5% to US$69.1 bn (Q1 2020: US$66.8 bn). Operating income and adjusted operating income increased by 3.4% ...
16 April 2021
CVS Pharmacy is expanding its frozen food and healthy snack offering at selected stores in the US as it looks to drive footfall and encourage greater shopper frequency. 74% of adults said their meal and/or snacking habits have changed during the pandemic CVS is looking to make mealtimes ‘quick and simple’ by expanding its convenient meal range to include more frozen meals and healthy snacks...
16 March 2021
We look at how US food and drugstore retailers are playing a pivotal role in the distribution of COVID-19 vaccines across the country as part of the Federal Retail Pharmacy Program (FRPP). Vaccine distribution exceeds over 71m people With over 71m people having received at least one vaccine dose, representing over 20% of the population, the US has made significant progress with its distribu...
09 November 2020
CVS Health releases third-quarter performance and announces Karen S. Lynch as the next CEO. Q3 performance driven by its diversified assets Total revenue increased by 3.5% to $67.1bn and was attributed to growth in its Retail / Long-Term Care (LTC) segment and Health Care Benefits segment. Retail/ LTC revenues grew by 5.9% to $22.7bn, driven by higher prescription volume of +4.6% and inc...
17 August 2020
We review CVS Health’s performance in the second quarter and its latest developments to help navigate through COVID-19. Revenue growth despite being impacted by COVID-19 CVS Health reported total revenue increased by 3.0% to $USD 65.3bn for the second quarter ending 30 th June 2020. The drugstore chain reported growth despite being affected by COVID-19, with impacts on its footfall and num...
07 May 2020
We review CVS Health’s Q1 performance and its role in relation to the coronavirus (COVID-19) pandemic. Retail same-stores sales up 9.0% Total net revenues increased 8.3% to $66.8bn in Q1, driven by higher volume in its Retail/LTC segment and pharmacy service along with membership growth in government products in health care benefits. Retail/LTC revenues were up 7.7%, with same-store sales u...
13 February 2020
We review CVS Health’s fourth quarter performance and how it’s developing an integrated healthcare model, building resilience against online pharmacy operators. Fourth quarter key numbers Total Q4 revenue increased 22.9% to $66.9bn, driven by the acquisition of Aetna For the full year, total revenue increased 32.0% to $256.8bn Within the Retail/Long Term Care (LTC) segment, revenue...