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June 2, 2006

Ryan sticking with expansion plan at CVS

CVS CEO Tom Ryan tells the Wall Street Journal today that debt will not change the company's plan to open 250 to 275 new stories a year.

CVS is expected to close today on its $2.93 bill aquisition of 700 Osco and Sav-On pharmacies.

Ryan says he is not worried by recent downgrades of CVS' debt by credit-rating companies. And he says CVS will continue to look at new deals.

"Acquisitions are a big part of our business, adn we do [them} well,'' Ryan says.

CVS, Rhode Island's largest corporation, will have 6,200 stores

Posted by Jack Perry  at 9:20 AM | Permalink

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