2004 Annual Report
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2004 Annual Report |
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Another CVS opens its doors. |
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In 2004, 225 new or relocated CVS stores opened for business. From Southern California and Las Vegas to Minneapolis/St. Paul and Chicago, we focused our expansion efforts on some of the fastest-growing markets in the country. Meanwhile, we replaced Eckerd signs with CVS/pharmacy signs throughout Florida, Texas, and elsewhere in the Sunbelt as we integrated one of the most strategically significant acquisitions in CVS history. New or acquired, we've worked hard to make all our stores "CVS easy." We start with a focus on convenient locations. Thanks to a disciplined real estate screening process, half the population in our markets lives within two miles of a CVS. In the Eckerd markets, we acquired many choice properties that were already in the right areas and on the right corners.
Customers prefer freestanding stores, so we've increased their number to 55 percent of our total. That figure is even higher among the Eckerd stores. Nearly 60 percent of our locations now offer either 24- or extended-hour service, and four in 10 have drive-thrus. Inside, customers will appreciate the carpeted floors, wide aisles, bright lighting, and low shelf heights that allow for easy access to every product. We've already converted more than 300 former Eckerd stores to this layout and expect to finish remodeling the rest of the acquired stores by July 2005. We're not slowing our pace of store openings either. We expect to open 275 to 300 new or relocated stores in 2005—adding approximately 125 net new stores—to finish the year with approximately 5,500. |
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CVS signs are going up across Florida, Texas, and points | ||
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| © 2005 CVS CORPORATION::INVESTOR.CVS.COM |