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CLAIM #18310 · CVS Health Corp (CVS) · 2023Q3 earnings call · Nov 1, 2023 · due Dec 31, 2023

By the end of the year, we'll have wage investments of over $1 billion.

Karen Lynch · CEO

PENDING
graded after results covering Dec 31, 2023 are reported

In context

at I would say is navigate the challenging market conditions through convenience and value in health and wellness products, and we've continued to see that business perform really well. If you exclude COVID OTC test kits, our front store same-store sales are about -- are flat, and we continue to grow drug share about 41 basis points even despite the softening traffic we've ever seen. Karen Lynch: Yeah. I just want to take this opportunity, Kevin, you talked about the competitive dynamics, and there's a lot of discussion around the labor market. And what I would say is that as a company, we are committed to providing the best place to work for all of our colleagues, including our pharmacists and our pharmacy techs. Over the last year or so, we've made a number of investments for our labor. By the end of the year, we'll have wage investments of over $1 billion. We continue to invest in our technology to support our teams in the field so that they can have streamlined workflows and smoother operations. We are committed and continue to hire. It's a tight labor market, but we've been having very good success in hiring. Our attrition numbers are stable. And we are actively developing new training programs as well for the ongoing development of our colleagues. But as I said at the top of -- the top here, we are committed to making sure that this is a powerful and -- we are an employer of choice. Kevin Caliendo: Thank you so much. Operator: The next question comes from Eric Percher from Nephron Research. Eric, your line is open. Please go ahead. Eric Percher: Thank you. I want to come back to the headwinds and tailwinds for Health Services in 2024. Fo

Verify independently

SEC filings for CVS · Claim quote is verbatim from the 2023Q3 earnings call.