Discontinuing tobacco sales a year ago may have been the right thing to do for CVS Health, but the company’s fourth quarter results offer other retailers contemplating a similar move a glimpse of the short term impact on sales.
Tailwinds from specialty pharmacy and increased generic utilization lifted CVS Health up on Tuesday, as the company posted net revenues of $35 billion, representing an increase of 9.7% for the three months ended Sept. 30.
Walgreens, Walmart and Kroger were among major retailers quick to implement temporary new programs designed to help customers coping with one of the many glitches associated with the roll out of the Affordable Care Act.
Target was in the top half of a group of 33 pharmacy retailers ranked by readers of Consumers Reports in the publication’s May issue. Target’s pharmacy received a score of 88 out of a possible 100, which put it well ahead of larger pharmacy operators such as CVS and Walgreens, both of which scored 82 and last-ranked Walmart, which scored 78.
When it comes to speed and accuracy, helpfulness and courtesy, knowledge and personal service, the pharmacy at Walmart ranked dead last in a survey of Consumers Reports subscribers that appears in the May issue of the publication.