CVS to Test Expanded Grocery and Store Brand Prepared Foods

May 11, 2010

CVS store front CVS Caremark Corp. is expanding its grocery section and adding prepared fresh salads and sandwiches at urban stores to bolster non-pharmacy sales and keep pace with competitors.

"We have a select group of stores currently reconfigured where we are tailoring our assortment to how the consumer shops that store," Dave Denton, chief financial officer of CVS told Bloomberg. "One of those items is expanding grocery and different food products that meet the busy lifestyle of people in those kinds of locations."

The exact product assortment is still evolving, he said, adding that the drug chain is using data collected from its loyalty-card program to determine its ultimate product mix in urban areas.

CVS is the latest in a string of retailers focused on providing customers convenient meal solutions, including drug store competitors Walgreens and Duane Reade, as well as mass merchandisers and grocers including Walmart, Target, Safeway and Supervalu.

Denton added that the 7,000-unit drug chain also plans to adjust store hours and checkout procedures in urban stores, which represent about 20 percent of the company’s store base.

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Keywords: business, companies, cvs, drug, duane reade, food and beverage, industry, markets, private label food, private label prepared food, store brand food, store brand prepared food, walgreens

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