The Total retail space of CVS Health Corp in United States of America reached 172,615 Sq. Ft. in 2020
The indicator recorded a historical growth (CAGR) of 0.18% between 2017 to 2020
Apparel retail in the United States
The apparel retail market includes baby clothing, toddler clothing and casual wear, essentials, formalwear, formalwear-occasion, and outerwear for men, women, boys and girls; excludes sports-specific clothing.
The US apparel retail market experienced moderate growth during the historic period, with the exception in the year 2020 when it declined by a significant share. The market is expected to recover and achieve strong growth in 2021. Increased consumer confidence translates into better domestic consumption, which has historically driven apparel retail sales in the country.
Impact of COVID-19
The US market declined by a significant share in 2020 due to lockdown measures which was introduced to inhibit the spread of COVID-19. With lockdown measures implemented throughout the year meaning all non-essential travel was prohibited, apparel retail was one of the worst hit retail sectors in 2020. As more consumers stayed at home, the demand for new clothing was not present. As a result, the pandemic has adversely affected the apparel market and led several retailers and brands to file for bankruptcy, speeding up the shakeout of the weakest who were already struggling because of over-expansion, high debts and lack of relevance to changing demand.
Company overview
CVS Health Corporation (CVS or 'the company') is a pharmacy and health care company. The company provides health insurance products and related services, pharmacy benefit management (PBM) services, over-the-counter drugs, prescription drugs, cosmetics, beauty products, and personal care products. The company sells its products and services through retail pharmacy websites, LTC pharmacies, retail pharmacies, MinuteClinic locations and onsite pharmacies. It serves employers, insurance companies, unions, government employee groups, health plans, Medicare Part D prescription drug plans, Medicaid managed care plans, managed Medicaid plans, government-funded health care programs, pharmacy benefit managers, managed care organizations, commercial employers, and third-party payors. It has a business presence in the US and Puerto Rico. The company is headquartered in Woonsocket, Rhode Island, the US.
Products & services
CVS is a provider of health care products and services. The company's key products, services and brands include the following:
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