Nov 18 (Reuters) – CVS Well being Corp (CVS.N) would shut about 300 shops a yr for the following three years, the corporate mentioned on Thursday, and expects to report an impairment cost of $1.0 billion to $1.2 billion within the fourth quarter of 2021.
The adjustments are part of the well being conglomerate’s strategic evaluation of its retail enterprise, because it seeks to diversify its gross sales channels.
CVS, best-known for its drugstore chain, additionally named Prem Shah, who would oversee the corporate’s omnichannel technique, to the newly created position of chief pharmacy officer.
Rival Walgreens Boots Alliance (WBA.O) additionally lately shifted focus past its drugstores, investing $5.2 billion in VillageMD and $330 million in post-acute and residential care supplier CareCentrix. read more
CVS lower its full-year 2021 revenue per share forecast to between $5.46 and $5.67 from $6.13 to $6.23, however caught to its adjusted revenue view saying the influence from the shop closures can be immaterial to adjusted EPS this yr and the following.
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Reporting by Amruta Khandekar; Modifying by Shailesh Kuber
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