|
|
 | | | |
- close
- close
- close
- close
| |||||||||
This excerpt taken from the CVS 10-K filed Feb 27, 2007. Store Development ~ The addition
of new stores has played, and will continue to play, a major role in our
continued growth and success. Our store development program focuses on three
areas: entering new markets, adding stores within existing markets and
relocating stores to more convenient, freestanding sites. During 2006, we
opened 147 new stores, acquired 701 stores, relocated 118 stores and closed 117
stores (including 73 stores of the Standalone Drug Business). During the last
five years, we opened more than 1,300 new and relocated stores, and acquired
more than 1,960 stores. Approximately half of our store base was opened or
significantly remodeled within the last five years. During 2007, we expect to
open approximately 275 new or relocated stores. We believe that continuing to
grow our store base and locating stores in desirable geographic markets are
essential components to compete effectively in the current managed care
environment. As a result, we believe that our store development program is an
integral part of our ability to maintain our leadership position in the retail
drugstore industry.
|
| |||||||
