Retailer News / News

CVS Says PL Penetration Steady In Quarter

August 8, 2012
/ Print / Reprints /
/ Text Size+

CVS Chief Financial Officer Dave Denton told analysts on a conference call Tuesday that the drug chain’s private label penetration remained steady during a strong second quarter for the company.

Same-store sales at Woonsocket, R.I.-based CVS rose 5.6 percent in the quarter, while retail operating profits soared 18.5 percent. Front store business, in customer traffic and average front-end ticket, rose in the quarter as well. Market share growth in the drug chain rose 1.23 percent for CVS in the quarter.

“Our private label penetration is about 17 percent,” Denton said in a response to a question from Goldman Sachs analyst Matthew Fassler, according to transcripts from Seeking Alpha. “Essentially flat year-over-year at this point in time. We continue to focus on it, Matt, and as we’ve said, we see opportunities to improve that over the coming years to get that mix up to 20 percent.”

CVS’ private label penetration was 17 percent as well in 2010, according to the latest PLBuyer Top 35 Private Label North American Retailers list. CVS was 16thin the most recent rankings.

Did you enjoy this article? Click here to subscribe to Private Label Buyer.

Recent Articles by Chris Freeman

You must login or register in order to post a comment.



Image Galleries

September 2014 New Food Products

This month's new food products include cane sugars, barbeque sauce, condiments in squeeze bottles, cinnamon snack seasoning, and jalapeno tzatziki, ice cream, herb toasts, corn puffs, instant coffee, coconut water, and a water enhancer.


Coming with a clear, comprehensive plan was the key to success for Longo Brothers Fruit Markets when the grocer decided to roll out a two-tier private label strategy, Jenny Longo and Robert Koss tell PLBuyer editor Chris Freeman in this podcast.

More Podcasts

Private Label Buyer Magazine

PLB September 2014 cover

September 2014

The September 2014 issue of Private Label Buyer includes a convenience channel update, as well as category insights on frozen store brand trends and health and beauty items. Check it out today!

Table Of Contents Subscribe

Private Label Segments

Which segment of private label will see the biggest growth over the next year?
View Results Poll Archive

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

PLB Marketplace


facebook_40px twitter_40px  youtube_40pxlinkedin_40pxgoogle+ icon 40px