Cvs Annual Report

Topics: Generally Accepted Accounting Principles, Revenue, Earnings before interest and taxes Pages: 4 (1314 words) Published: September 19, 2013
CVS/Pharmacy Vs. Walgreens: Final Analysis
Houston : TX : USA | Jan 11, 2011 at 10:17 PM PST
BY jelliothoward

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From "Rewritten Lives" author J. Elliot HowardFor more information visit Rewrittenlives.com and Amazon.com

Executive Summary/Company History/Products and Services
CVS/Pharmacy has shown a consistent growth for the last three years. Three years ago CVS/Pharmacy has merged with Longs Pharmacy and Caremark to form the largest retail pharmacy chain in the United States. CVS/Pharmacy- CVS/Pharmacy began operations in 1963, and added the pharmacy department in 1967. In 2007, CVS merged with Caremark Rx, Inc. Finally, in 2008, CVS bought the Longs Drug Store chain. CVS has over 7000 stores(Cvs.com, 2010). At the end of 9 months of 2010, the company has lost 9.25% against 2009 net income. However, the company has increased their assets and liabilities by .1% against 2009 figures(Cvs.com, 2010). As the company stands now in trends, Net revenues for this 7,100-store drugstore retailer were $23.9 billion for Q3 2010, down 3.1% from $24.6 billion in the prior year's period. Poor performance by the company's Pharmacy Services segment—its revenues dropped 8.5%, to $11.9 billion—was a major contributor to the company's woes. CVS' Retail Pharmacy segment revenues actually increased 4.1%, with total same-store sales climbing 2.5%(Trendwatch, 2010). CVS/Pharmacy is in the process of transitioning their leadership at CEO. Tom Ryan will be stepping down at the end of the year as CEO, and Larry Merlo will be promoted to CEO. Tom Ryan has been the CEO of CVS/Pharmacy Inc. since 1994, and it has been the consistency at the top that has lead to the expansion of CVS/Pharmacy as being largest retail pharmacy chain in the United States. Now that Tom's tenure is coming to a close, a new dawn is occurring for the corporation with Larry Merlo taking the helm. Competitor Analysis

In the retail pharmacy industry, there are only three pure...
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