CVS Company Assignment Example | Topics and Well Written Essays - 1250 words

CVS Company - Assignment ExampleCVS Company was started in 1963 by Stanley and Sidney Goldstein and Ralph Hoagland. By 1964, the phoner had 17 stores in the States. Initi entirelyy, the company sold health and beauty products precisely in 1967 ventured into the pharmaceutical world with its first pharmacy in Rhode Island. Melville Corporation bought CVS in 1969 and by 1974, the company had made $100 million annual sales. 11 years later, the company reached a billion dollars in annual sales. In 1994 the company introduced PharmaCare, a health insurance cover for their employees. By 1997 CVS had more than 2500 stores all over the States. Having become one of the companies to complete the acquisition or Revco, the company was granted major apothecarys shop locations in the Midwest and Southeast. Since then, the company has grown tremendously penetrating many of the States in the US. The firm pioneered the substructure of the loyalty card program, Extra Care Card for its customers. ( CVS Caremark Company history 2012) CVS company move to cede selling tobacco products has led to another great loss in the companys sales as they al-Qaeda to lose approximately 2 billion dollars every year amounting to a 3% loss. Quitting selling tobacco products is one of the reasons why CVS has been unable to provide its tobacco smoking customers with their usual products. The company argues that they are considering a healthy approach that benefits both them and their customers. But with this decision, many of the customers purchasing tobacco products are forced to take care alternatives elsewhere or quit smoking altogether. (Paul 2014) In 2011, CVS had a shortage of several products from Johnson & Johnsons. Consumers were told of the shortages which included Motrin, famotidine AC, Rolaids, Neutrogena skin care products, childrens Tylenol liquid and Tylenol drugs for adults. A department at Johnsons & Johnsons, the McNeil Consumer Healthcare, recalled millions of the J&J produc ts following a quality control problem in its product lines. Some products were hazard of containing metal while others were reported of having a moldy smell within their bottles.