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Pharmacy Facelift: How Walgreens and CVS Aim to Boost Profits

by Team Lumida
May 17, 2024
in Markets, News
Reading Time: 4 mins read
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Photo by Anna Tarazevich on Pexels.com

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Key Takeaways

  1. Walgreens and CVS are redesigning stores to emphasize health and wellness.
  2. Rising competition and falling margins drive these changes.
  3. Investors should watch for potential improvements in profitability and customer satisfaction.

What Happened?

Walgreens and CVS are drastically revamping their store layouts to focus on health and wellness, aiming to counter sagging performance. Walgreens, for example, is testing a new store design in Aubrey, Texas, where the pharmacy counter is moved to the front, and customers use self-service kiosks.

CVS is integrating its Oak Street Health primary-care centers into some stores. Both chains have seen significant declines in operating margins, with Walgreens’ U.S. pharmacy operating margin dropping to -5% last year. These redesign efforts are part of broader strategies to improve efficiency and customer experience amid fierce competition from Amazon, Dollar General, and Walmart.

Why It Matters?

These changes are crucial as both Walgreens and CVS struggle with falling margins and investor dissatisfaction. Walgreens’ shares have plummeted 77% over the past decade, and CVS’ shares have dropped 26%.

By making pharmacies more customer-friendly and efficient, they aim to attract more customers and boost profitability. These efforts are essential for long-term sustainability, especially given the increasing role of pharmacists in healthcare services, such as vaccinations and testing.

What’s Next?

Investors should monitor the success of these pilot stores and any subsequent rollouts. If these new designs prove effective, we could see a broader implementation, potentially improving the financial outlook for both companies.

Additionally, keep an eye on the labor situation; reducing pharmacists’ workloads could enhance service quality and customer satisfaction. The success of these initiatives could also pressure competitors to innovate, potentially reshaping the entire pharmacy landscape.

Source: Bloomberg
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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
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