CVS Health news

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...
08 November 2019
CVS Health delivered a strong third quarter performance, supported by the acquisition of Aetna and the roll-out of its new HealthHUB format. Optimising data and analytics Total revenues in Q3 increased 36.5% to $64.8bn, with same-store sales up 3.6%. Growth was primarily driven by the acquisition of Aetna. Front store same-store sales were up 0.6%, while pharmacy same-store sales increased ...
07 August 2019
We review CVS Health’s Q2 results and the progress it’s making against its four strategic pillars. Top line results Second quarter revenues increase 35.2% to $63.4bn, reflecting the acquisition of Aetna. Within the Retail/LTC segment, revenues increased 3.7% to $21.4bn. Same-store sales increased 4.2%, driven by pharmacy up 4.7%, while front store same-store sales were up 2.9%. Net income c...
06 August 2019
CVS Pharmacy expands its membership programme ‘Carepass’ nationwide. CarePass: on-demand care CVS Pharmacy expands its membership programme ‘CarePass’ nationwide, for its retail division. The roll out follows a successful trial which launched to customers in Boston in October 2018. CVS Pharmacy customers can now register at participating stores nationwide, or online. CarePass of...
04 June 2019
Following the launch of three pilot HealthHUB stores in Houston earlier this year, CVS Health has announced plans to open up to 1,500 of these stores over the next three years. Creating a convenient healthcare destination The new HealthHUB format was developed following the retailer’s $69bn acquisition of Aetna, a leading healthcare insurance company. The business imagined an opportunity to...