OPERATIONS

CVS Caremark launches Android app

BY Staff Writer

Woonsocket, R.I. — CVS Caremark announced the release of the Caremark.com Droid application. Available at no cost at the Android Market, this new application provides Android users with the ability to access the Drug Information Database to learn more about various prescription drugs and allows CVS Caremark plan members to log in and securely manage their prescriptions online.

The application can be used with Android 2.1 OS and above phones. Caremark.com has had an iPhone application available since July 2010, and this new Android application further broadens CVS Caremark members’ mobile access to their prescription information.

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REAL ESTATE

Gap details growth strategy; will test Piperlime store

BY Marianne Wilson

New York City — Gap reaffirmed the company’s commitment to reducing square footage at home while aggressively growing its online revenue and international presence during a presentation to investors in New York City. Gap also revealed that it will explore a brick-and-mortar store for its online-only Piperlime division next year.

Gap said it is on track to its goal of a 10% reduction in overall store square footage (as compared with 2007) in North America by the end of fiscal 2012. Gap’s namesake brand will cut its square footage 34% overall (compared with 2007 levels), resulting in 700 U.S. and Canada Gap stores and 250 Gap Outlet stores at the end of 2013.

The plan for Old Navy is to have roughly the same number of stores in North America, but with a smaller footprint, The chain expects to potentially remove another 1 million sq. ft. by fiscal year end 2013.

The company is growing its new athletic apparel brand, Athleta. The division is on target to have opened 10 stores in North America by the end of fiscal year 2011, and 50 locations by the end of fiscal 2013,

Gap’s e-commerce sales were up 19% in the first half of the year. The retailer expects the direct division to hit $1.5 billion in revenue by yearend, and to reach $2 billion in revenue and operating income of $500 million by the end of fiscal 2014.

On the international front, Gap will debut Old Navy abroad within 18 months, opening in Japan. It plans to nearly triple the number of Gap stores in greater China from roughly 15 by yearend to about 45 by the end of 2012. The first Gap flagship in Hong Kong is set to open in a matter of weeks on Queen’s Road, as is the company’s first Banana Republic flagship in Paris later this year.

Gap International president Stephen Sunnucks said the company’s new stores are performing well in China and Italy, and the franchise business experienced 48% revenue growth in the first half of fiscal 2011. The company expects to double its franchise stores to about 400, by the end of fiscal 2014.

The company reaffirmed its fiscal 2011 full year earnings per share guidance of $1.40 to $1.50.

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News

CVS Caremark launches a new Droid app

BY CSA STAFF

WOONSOCKET, R.I. — CVS Caremark has released the Caremark.com Droid application, which provides Android users with access to the Drug Information Database to learn about various prescription drugs and allows CVS Caremark plan members to log in and manage their prescriptions online.

The free app can be used with Android 2.1 OS and above phones. Caremark.com has had an iPhone application available since July 2010, and this new Android application further broadens CVS Caremark members’ mobile access to their prescription information.

"At CVS Caremark we continue to find ways to engage and communicate with our members using new technologies to manage their prescriptions and keep them connected," stated Tim Kurth, VP e-business at CVS Caremark. "The availability of an Android app enables us to provide our plan members with convenient access to their Caremark.com accounts through their preferred mobile devices."

Any Android user can download the application and use the Drug Information function. This function will connect users to the Drug Information Database where they can research particular prescription medications, get information about how to take them, learn about available generic drug alternatives, see an image of the drug, learn about side effects and precautions and more.

CVS Caremark PBM members can use the application to register on Caremark.com or log in to their existing Caremark.com accounts from their Androids. Once they are logged in, members can perform a variety of functions, including:

Refill a prescription;

  • Check prescription order status;

  • View prescription history;

  • Easy mail-service prescription refills;

  • Online new prescription requests;

  • Check drug coverage and cost; and

  • Locate a network pharmacy.

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