CVS Caremark to expand headquarters, add positions
WOONSOCKET, R.I. CVS Caremark has announced expansion plans for its headquarters over the next two years, a move that will help support the company’s continued growth and current hiring expectations of more than 200 new positions on its corporate campus.
The nature of the new jobs was not disclosed. In Rhode Island, the company currently employs 5,800 associates.
The plans are to build two new 150,000-square-foot office facilities in the Highland Corporate Park in Cumberland, R.I. The company has been based in Highland Corporate Park, which is jointly located in Cumberland and Woonsocket, since 1982. The company significantly expanded its customer support center facilities in 1988 and again in 2000.
“Our company was founded in Rhode Island more than 40 years ago and we feel fortunate to be able to continually reinvest in our home state,” stated Tom Ryan, chairman, president and chief executive officer. “As the largest company in Rhode Island we are looking to further expand our base of operations to support our continued growth and, as a result, increase our workforce over the next few years.”
Shoppers Drug Mart increases same-store 2Q sales by 4.6 percent
TORONTO Shoppers Drug Mart posted sales of $2.1 billion for the second quarter ended June 14, the company announced Wednesday.
On a same-store basis, excluding tobacco products, sales increased 4.6 percent during the quarter, representing a 6.4 percent lift in prescription same-store sales and 3 percent growth in front-end comparable sales (excluding tobacco). Tobacco is currently being phased out of its remaining stores in Western Canada, the company reported.
Overall, prescription sales increased 11.6 percent over the quarter, accounting for 47.9 percent of sales, while front-end store sales improved 7.4 percent.
During Shoppers’ second quarter, 22 drug stores were opened or acquired, nine of which were relocations, and two smaller drug stores were closed. At quarter-end, there were 1,171 stores in the system, comprised of 1,106 drug stores and 65 Shoppers Home Health Care stores. Drug store selling space was approximately 10.1 million square feet at the end of the second quarter, an increase of 13.9 percent compared to a year ago.
Changes in shopping trends reflect high gas prices
SCHAUMBURG, Ill. Increasing gas prices aren’t just causing Americans to change vacation plans; they’re also causing them to change shopping plans, according to a report Nielsen released Thursday.
The report found that 63 percent of consumers have reduced their spending—an 18 percent increase over last year and a 14 percent increase from six months ago. At the same time, 78 percent are combining shopping trips, with 32 percent using coupons more often and 35 percent buying cheaper brands.
“With gas prices passing the $4 per gallon mark, consumers are altering their driving and spending habits at dramatic levels,” said Todd Hale, Nielsen’s senior vice president for consumer and shopper insights. “While discretionary spending is likely to be a challenge for most low- and middle-income shoppers, even affluent consumers are looking for ways to make their dollars go further.”
Oil prices were $135.25 per barrel in New York trading Thursday, according to Bloomberg.