CVS 2000 Annual Report Download - page 7

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pickup. In markets where we have CVS/pharmacy
stores, more than 90% choose in-store pickup. We are
continuing to drive growth in the business,and we expect
CVS.com to be profitable by no later than 2002.
CVS’ Strong Outlook
I believe CVS is better positioned than at any time in
the Company’s history to capitalize on the significant
opportunities in healthcare. We are optimistic that we can
achieve our targets for top-line and bottom-line growth
while we continue to invest for the future. CVS is the leading
player in an industry that is itself vibrant and growing. We
have dynamic and expanding businesses in multiple segments
of the retail healthcare industry, proven strategies in place, and
a solid financial position. Our investments in new technology,
such as the EPIC pharmacy system and our Assisted Inventory Management program,
are expected to have a positive impact on efficiency and profitability. And, we expect
to reap the benefits of our participation in the Worldwide Retail Exchange (WWRE)
through better communications and streamlined ordering processes with our suppli-
ers. CVS was a founding member of the WWRE, which has grown to encompass 53
companies representing more than $700 billion in combined retail revenue.
CVS’success in 2000 was directly attributable to the hard work and commitment of
our 100,000 colleagues, and I want to thank each of them for their contributions. We
also appreciate the wise counsel of our Board of Directors and the loyal support of our
business partners and customers. We thank you, our shareholders, for your continued
confidence in CVS, and we look forward to reporting on our future successes.
Thomas M. Ryan
Chairman of the Board,
President and Chief Executive Officer
More than 90% of customers who use CVS.com in
our markets choose to pick up their prescriptions
in our stores, confirming the strength of our
“clicks and mortar” format.
5
2000 Annual Report