CVS is one of the places consumers head to often if they get sick. The pharmacy chain has its perks as being the largest pharmacy chain in the United States. As of December 31, 2012 there were 7,458 stores operating nationwide of which 7,402 had a pharmacy, filling nearly 10% of every prescription in the United States, CVS holds the top position in having most number of stores and number of prescriptions filled each year even though the company earns lower revenues than its competitors. (CVS Corporation History) Founded in 1963 under the name of Consumer Value Store, CVS is incorporated in Delaware. The company’s mission statement is “ to provide innovative pharmaceutical solutions and quality client service in order to enhance clinical outcomes for our clients’ health benefit plan members while assisting our clients and their plan members in better managing overall health care costs”. (CVS Annual Report , 2011) The company is currently in the maturity stage of its life cycle with constant growth observed in sales and size. In 2012, the company generated net sales of $123 billion and earned about $3.8 billion in net income. CVS’s total assets exceed $65 billion of which about $24 billion is tied to property, plant and equipment (CVS 10-K Report, 2012). CVS employs approximately 26,000 full time pharmacists and 77,000 part time employees where the pharmacists are legally licensed. As a growing retailer, The CVS envisions being the safest retailer and strives to provide great service to its customers and being sustainable regarding their operations. They also want to increase their market share by being the most convenient and go-to pharmacy in the United States. (CVS Annual Report , 2011)
For the fiscal year ending December 31, 2012, CVS saw a growth in revenues and market share. During 2012, CVS’s revenue increased by 14% from 2011 and the overall market share increased to $67.7 Billion. Net earnings of $3.8 billion were...
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