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Walgreen Co. Message Board

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  • pmcmurrell pmcmurrell May 8, 2002 8:12 PM Flag

    Way to go CVS

    We talked about this before, dudes. CVS is putting behind the 200 stores closed in the first quarter. So, that means they will no longer adversely affect profits. It means that
    CVS made profits, despite writeoffs with regard to those stores. It means that front end sales
    will improve. It means that CVS is a better
    buy now, with maybe a target of $60.
    The future PE ratio of CVS is very low! Looks
    like CVS is a winner!
    While WAG and CVS will likely both do well, CVS is making STRONG GAINS in IL (many, many stores now). You got to know this is hurting WAG.
    CVS is building more stores in Oak Park, IL.
    Pretty soon - WAG sees the "handwriting on the wall."
    Some time ago the FEAR MONGERS tried to compare CVS with RAD, and CVS went GAP down. But, CVS kept its promises and stuck to its plan. It is healing within and getting STRONGER EVERYDAY.
    CVS over WAG anyday! Up almost $2 today, which was a bit crazy on the news.

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    • PMCmurrell you are so clueless I don't even know where to begin. Do you honestly think the 25 CVS stores in Chicago have even made a dent. Everytime I drive by a CVS there are more employee cars parked in the lot than actual customers. If a typical Wag new store takes 3 years to breakeven these stores will take at least 5 if not more. Since your knowledge of the drug chain industry is limited at best I will fill you in a little. While you say CVS is stealing sales from Wag in Chicago, what about elsewhere around the country. Wag is killing CVS in Detroit where the Arbor Drug chain was acquired, they may still be market leader but their market share has dropped 10% since Wag entered the market. How about Atlanta, CVS is #1 there and with about two new Wags opening per month their market share is dropping there as well. Next to California, Atlanta is probably #1 in terms of Wag future growth. In 5 years Wag went from no presence in Las Vegas and Dallas to #1 and I can see the same thing happening in Atlanta. Virginia, Baltimore, New York, Philadelphia, Alabama, the Carolinas are other CVS strongholds marked for WAG growth. With the $350.0 writeoff taken for over 200 store closings CVS does not have the resources to compete with the Top Dog. Every 17 hours a new store opening often right across the street from a CVS. By the way nice quarter CVS, with sales up over 10%, earnings dropped I believe $.21 a share. There are 3 certainties in life, death, taxes and Wag making 15% EPS growth. It's not sexy but just buy your shares, hold on and watch your growth average 15% a year.

 
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