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This excerpt taken from the CVS 10-K filed Feb 27, 2007. Front Store ~ Front
store revenues benefited from our strategy to be the first to market with new
and unique products and services, using innovative marketing and adjusting our
mix of merchandise to match our customer’s needs and preferences. For example,
we were the first retail pharmacy to market with a digital photo solution
throughout our chain, including being the first to offer printing from digital
camera phones, the ability to upload digital photos to CVS.com and have them
available for in store pickup the following day, and the first to offer a
one-time-use digital camera. A key component of our strategy is our ExtraCare®
card program, which is helping us continue to build our loyal customer
5 base. In addition, ExtraCare is one of the largest and most successful retail loyalty programs in the United States. ExtraCare allows us to balance our marketing efforts so we can reward our best customers by providing them automatic sale prices, customized coupons, ExtraBucksTM rewards and other benefits. Another component of our front store strategy is our unique product offerings, which include a full range of high-quality CVS brand products that are only available through CVS. We currently carry over 2,000 CVS brand products. In addition, CVS offers a unique front store focus on cosmetics, health and beauty by being a U.S. distributor of several European cosmetics and skin care lines, including Lumene®, Avene® and Vichy®. In 2005, we launched our new Skin Effects® skin care line by Dr. Jeffrey Dover and in 2006 we launched a new Skin Effects® sun care line and introduced a CVS exclusive line of diapers, wipes and other baby care products under the Playskool® brand. CVS brand and exclusive products accounted for approximately 14% of our front store revenues during 2006. |
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