The pharmacy chain – based from Woonsocket, Rhode Island – revealed earlier this year that it opened a concept store focusing on healthcare in the Houston area, which has been a hit so far. The company revealed today that it will expand the concept to 1,500 seats within the next two and a half years.
The goal of CVS HealthHUB stores is to lower how much customers have to trust to buy retail goods, instead of giving them an opportunity to improve their well-being with the right healthcare services. These stores will have more than 20% of the floor space specifically intended for health and medical services such as health care and personal care.
The chain has also reduced the amount of floor space used for less popular items such as greeting cards, while at the same time adding space in hundreds of stores for its tooth-repellent service SmileDirectClub. The HealthHUB stores will also have extra space for yoga classes, as well as extra space for CVS Minute nurses to perform a variety of services such as phlebotomy, diabetic screening and sleep apnea assessment.
The company recently closed the doors to 46 stores that underperformed due to the growing competition as online retailers that Amazon has provided for them.
The CVS share rose by about 3.7% on Tuesday after the news.
Article printed from InvestorPlace Media, https://investorplace.com/2019/06/cvs-healthhub-stores-stock/.
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