As part of its annual Industry Issues Conference in December, Drug Store News hosted the Chronic Care and Retail Health Roundtable, expanding the program for the first time in its 15 year-existence beyond the diabetes management.
Costco Pharmacy & Business News
How does a big-box warehouse club operator generate awareness of its health services when its pharmacies are dwarfed by a vast array of electronics, case-pack groceries, apparel and general merchandise? Work with what you’ve got by tapping into the massive stream of customer traffic flooding the stores, and by highlighting your health-and-wellness offerings through pharmacist-provided counseling, preventive-health services and free health screening events.
Drug Channels on Thursday released its latest ranking of pharmacies based on total prescription revenues, with Walgreens Boots Alliance the largest of retail pharmacies, followed by CVS Health and Walmart. "We estimate that total revenues of retail, mail and specialty pharmacies reached $364.1 billion in 2015, up 12.1% from 2014," wrote Adam Fein, CEO Drug Channels Institute. "The top tier of dispensing pharmacies ... accounted for about 64% of U.S. prescription dispensing revenues in 2015." (Drug Channels)
Comparable results were best among the company's hearing aid, optical and pharmacy categories, Jeff Elliott, AVP financial planning and investor relations, shared in a pre-recorded call for investors.
Costco’s first quarter of FY16 saw an increase of 2% in U.S. sales and an overall dip of 1% for the company's entire operation.
Vitamins have made a comeback.
Attendance at the event, presented by Drug Store News, reached record levels, with 40 retailers and more than 240 supplier participants.
Costco’s comparable sales saw no growth for the month of November and a dip of 1% for the first quarter of FY2016, whose operating results the company plans to release on Dec. 8.
Though Costco’s U.S. sales saw a 1% increase over both the four weeks and nine weeks ended Nov. 1 compared to last year, its Canadian stores saw an 8% decrease in comparable sales.
Costco’s U.S. stores saw a slight lift in comparable sales as international stores — particularly in Canada — saw comps drop.