CVS 2005 Annual Report Download - page 13

Download and view the complete annual report

Please find page 13 of the 2005 CVS annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 52

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52

3
Staking Out New Pharmacy Markets
✛
11
“Location is everything,” goes the old adage.
Well, we’ve taken it to heart at CVS by entering
some of the fastest-growing U.S. drugstore
markets over the past five years. From Illinois,
Minnesota, and Nevada to Arizona and Southern
California, we’ve been introducing shoppers to
the “CVS easy” approach to retail. They’ve
responded by keeping CVS/pharmacy firmly
atop our industry in sales per square foot. Of
course, we’ve made it a snap for customers to
find us. That’s because our stores are
conveniently located within two miles of half the
population in our markets.
With 5,420 locations and counting, CVS
pharmacies fill one in every five prescriptions
in our markets. We dispensed more than
400 million scripts in 2005, and our growth in
this area is outpacing food, drug, and mass
retailers as a whole. That’s critical because the
pharmacy generates 70 percent of total CVS
sales. Our 2004 acquisition of more than 1,100
Eckerd stores, primarily in Florida and Texas,
has vaulted us into key leadership positions in
these important markets virtually overnight. And
our planned acquisition of 700 Sav-on and Osco
drugstores will further enhance our market
leadership and geographic reach in large and
growing drugstore markets.