On March 30, 2026, CVS Health opened its first pharmacy‑only, apothecary‑style location at 2628 West Pershing Road in Chicago’s West End. The 3,000‑square‑foot store focuses exclusively on prescription medication, immunizations, and pharmacist‑led services, offering a dedicated neighborhood experience that differs from the company’s traditional full‑service stores and store‑in‑store formats.
The Chicago launch is the first of nearly 20 pharmacy‑only sites planned for 2026, with additional locations slated for Houston, Detroit, Roxbury, Brooklyn and other communities. CVS also intends to open more than 40 new traditional and Target‑partnered pharmacies, balancing smaller, community‑focused sites with larger, multi‑service locations as part of a broader retail transformation strategy.
CVS’s recent financial performance underscores the strategic context for the new format. In Q4 2025, the company reported adjusted earnings per share of $1.09, beating estimates of $1.00, and revenue of $105.69 billion, up 2.0% from the $103.60 billion forecast. Full‑year 2025 revenue reached $402.1 billion, a 7.8% increase, while adjusted EPS rose to $6.75, exceeding expectations by about 15%. For 2026, CVS reaffirmed its adjusted EPS guidance of $7.00 to $7.20 but lowered its operating cash‑flow guidance to at least $9.0 billion from the prior $10.0 billion range.
Segment data reveal that Pharmacy & Consumer Wellness grew 11.9% to $139.4 billion, Health Services increased 9.7% to $190 billion, and Health Care Benefits expanded 9.7% to $143.4 billion, though the latter posted an adjusted operating loss of $676 million in Q4 2025 due to Medicare Part D seasonality and rising medical costs. CEO David Joyner highlighted the company’s integrated approach, noting that “our pharmacy teams are a trusted touchpoint for patients, and the new pharmacy‑only locations will deepen those relationships.” EVP Len Shankman added that the format “allows pharmacists to build relationships with patients—friends and neighbors—while providing on‑ground care in communities that need us.”
Consumer research shows that 80% of patients prefer in‑person pharmacy care and 84% view pharmacies as trusted healthcare destinations, supporting CVS’s decision to expand pharmacist‑centric sites. By concentrating pharmacy services in smaller, neighborhood‑focused stores, CVS aims to enhance accessibility, strengthen patient relationships, and reinforce its position as a trusted health‑care provider amid evolving consumer preferences and regulatory pressures.
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