CVS will open 1,500 HealthHUB stores by the end of 2021, the company announces ahead of its investor day. These stores are remodeled drugstores that focus more on health services and products and less on candy and greeting cards.
will open 1,500 HealthHUB stores by the end of 2021, the company announced Tuesday ahead of its investor day.
"We're pleased with the customer feedback we've received on the HealthHUBs," CVS Pharmacy Kevin Hourican said in an interview. He said these stores have seen higher traffic in the MinuteClinics, increased sales in the front of the store and more prescription volumes. Alan Lotvin, CVS executive vice president of transformation, said the 50 stores CVS will add this year will include these same features, while the ones added next year and the year after may look slightly different as the company improves on the design. CVS may tweak the designs for different markets and store sizes. For example, Hourican said stores in the Northeast tend to be smaller than the ones in Texas, so the company will need to pare it down.
The company in May said it decided to close 46 underperforming stores. Hourican said he does not anticipate "meaningful" store closures. However, he said 500 store leases come up for renewal every year and CVS will review those.of health insurer Aetna. The combined company says it wants to keep its members healthier and lower its health-care expenses and that managing chronic conditions in its drugstores will help accomplish that.
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