OPERATIONS

CVS Caremark discusses growth at annual stockholders meeting

BY Staff Writer

Woonsocket, R.I. — CVS Caremark held its annual meeting of stockholders at its headquarters on Thursday, and the tone attendees heard was a positive one.

According to president and CEO Larry Merlo, the company is well-positioned for growth in an evolving healthcare market.

Merlo made note in the meeting of Walgreens’ battle with Express Scripts, which has created opportunity for CVS to pick up significant prescription business.

Merlo said its key to success is leveraging its integration sweets spots — those products and services that are unique to CVS Caremark because of its integrated model — and emerging growth opportunities.

He discussed the company’s MinuteClinic business, which is an important piece of CVS’s integrated strategy, along with the ExtraCare loyalty program, the digital strategy, the store clustering initiative and the move toward differentiated store brands to fuel front-end growth.

The company, Merlo said, is executing successfully on its initiatives and is “positioned for strong growth in 2012 and beyond.”

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REAL ESTATE

MinuteClinic expands presence in San Antonio

BY Allison Cerra

Woonsocket, R.I. — MinuteClinic announced on Thursday the debut of two walk-in medical clinics inside CVS/pharmacy stores located in San Antonio,Texas.

The retail clinic operator, which opened its doors in the Lone Star state in 2006, now operates 45 clinics inside select CVS/pharmacy stores in Austin, Dallas/Fort Worth and San Antonio markets. In addition to the two clinics, a third is slated to open later this year.

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OPERATIONS

QVC names CEO of European division

BY Katherine Boccaccio

West Chester, Pa. — QVC on Thursday announced the promotion of Steve Hofmann to CEO of QVC Europe, reporting to QVC president and CEO, Mike George.

In the newly created position, Hofmann will oversee QVC’s European markets, including the United Kingdom, Germany, and Italy, and accelerate growth opportunities throughout Europe. He maintains his current responsibility as CEO of QVC Italy and will continue to be based in Milan.

Also announced were the promotions of Gregg Bertoni to chief merchandising officer, QVC Italy, and Paolo Penati to COO and CFO, QVC Italy.

“QVC is pursuing more global initiatives and we are evolving our leadership structure to meet the growing scale of our business,” said George.

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