i used to be a store manager for CVS. now i am a former disgruntled employee. i used to average an 70 hour work week and at least six days, on a good week. i asked the DM to give the employees more money, but it wasn't in the budget. now i am the main ringer, stock boy and manager. is this what i went to college for? the managers that are getting promoted today have no experience with the company. The DM's know how to point their fingers, but don't lift them to help. why are managers getting frustrated? The answer is simple. The bosses want everything done yesterday, managers have no help, long hours, no positive feedback, not enough hours in the budget, stay as long as you have too, overwork your assistants, no lunches, cut hours to make the budget, and still be the security in the store at all times. CVS upper level management do not invest in their managers, but they do expect everything done yesterday. i liked working for CVS, until the buyout of Revco. it went straight down the tubes after that. we replaced most of the Revco managers without experienced replacements. no wonder the stores are not looking so good.
as a current employee of cvs i am get a bed feeling when former employees have a gripe with the company. the company has had me for 11 years now and while the wwork load has increased it seems to me that if you take adavantage of what cvs offers in the way benefits stock options and 5401 k the more busy you are the more cvs makes and the more an employee stands to make. cvs has treated me very well as i have a wife with panic disorder and they have arranged my schedule to allw me to continue working and yet meet my obligations to my family.cvs is a fine company to work for
I've posted here before as an ex-employee too. By in large, I found "yahust"'s lament very legitimate. I worked there as a high schooler and a summer during college. I was the head cashier. I feel really sorry for the store managers. As part of the management team, you can only do so much to motivate your employees - particularly the part timers.I've visited some of my ex co-workers once in awhile and things just don't look that good. I mean I was shocked to see a kid who just got out of the high school be hired immediately to be an assistant manager. I mean, they probably just showed them the introductory video and stuck him in the store.I still believe very much in CVS. It is a force to be reckoned with. It WILL move West. Is just inevitable. But they must maintain the quality of their services.
The above notes got me thinking.......I've never worked for CVS, and have never known anyonewho has. I bought some shares a while ago.....figured the chain was in a good position to takeadvantage of demographic trends, etc.But when I read two notes from disgruntled employees,I thought about my experiences as a customer.The two CVS stores in my area are NOT very impressive.One doesn't even have a pharmacy...it is in amall that probably charges a VERY high rent.The kids who work there don't seem to give a damnabout the store....it's just a (low-paying)job.The other CVS is where I get my prescriptions filled.It used to be a Revco, and before that a Brooks,and before that a Walgreens. Has CVS improved theplace??? I don't think so....I go there becausethere aren't many pharmacies to choose from in myarea. The workers DO seem tired, overworked, andnot very happy.So.....if we go by Peter Lynch's maxim..."Buy whatyou know".....we have to ask WHAT do we think ofthe business from first-hand experience. It's nothard to see what my opinion is.Then....there are fundamentals. Is CVS worth a p/e in the upper 20's? With a growth rate ~ 17%?Not a CRAZY valuation....but not a cheap stock.SELL....I think. Any other opinions?(maybe I should have written this AFTER I sold <grin>Jack
I would hold on to your stock despite the bad experiences some people on this board had have working for CVS. It is true that we work hard and the hours are tight. I do have to put in extra hours, but not an excessive amount. As far as that mall store near you with the high rent, CVS is pulling out of malls, and trying to go with the free-standing locations. It may be that the lease isn't up for a few years in your mall, or it might be that it is such a high profile mall that CVS wants to maintain a presence there. I worked in several CVS mall locations, and we did a VERY good business. One of those locations closed when the lease was up despite our excellent sales and bottom line profit. CVS knew that they could open a nearby store and make more profit.
CVSman, (welcome to Fooldom!) Thanks for your thoughts. I'm still holding myCVS, for at least two reasons: 1. Other work on my portfolio is taking priority 2. The Merck/Medco deal gave me some hope for CVS Sometimes....and maybe this is foolish (with asmall f)...I tend to let my "feelings" about a company influence me too much. Clearly, the bestinvestment decisions are made with cold logic. Inthat regard, CVS is still fulfilling the criteriaupon which I decided to buy the shares. Now...I have to run over and see how my newly-bought shares of AMAZON are doing. GEEEZZZZ....ILOVE that company already (wink).Jack
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |