Total revenues increased 6.2%, driven by revenue growth across all operating segments.
David Joyner, CVS Health Chairman and CEO, said about the earnings report for the first quarter, “CVS Health continues to provide what people want most from health care: a connected, convenient, cost-effective engagement experience across our unique collection of businesses. We build trust every day in communities across the country by providing better access, affordability and care to nearly 185 million people. Our positive performance is driven by strong execution across our enterprise. We will continue to build momentum through delivering on our strategy and a steadfast focus on our purpose - to simplify health care one person, one family and one community at a time.”
And while revenues are up. CVS is looking to utilize robots to decrease staffing.
A report in the Wall Street Journal unveils how a warehouse in New Jersey has dramatically increased the use of robotics and decreased the number of workers.
According to the Wall Street Journal, “The building in Hainesport employs 150 people—about a quarter of the head count a warehouse without automation would need to handle the same volume.”
And not only has it reduced employment, but it has also dramatically improved efficiency, says the company.
PHOTO: AutosStore, Promotional
“CVS declined to disclose the size of its investment in the warehouse, which uses technology from warehouse-automation providers AutoStore, Tompkins Robotics and Bastian Solutions, part of Toyota Automated Logistics. The Hainesport building processes 2 million items a week for delivery to stores, up from 550,000 units a week before CVS installed the automation in 2023,” wrote the WSJ.
SEE VIDEO ABOVE OF AUTOSTORE'S TECHNOLOGY
We didn’t build this because we just want some cool technology,” said Josh White, chief supply-chain and logistics officer at CVS, told the WSJ, during a recent tour of the warehouse. “The entire point of doing this was to drive incredibly high levels of accuracy and therefore product availability on shelves.”
CVS plans to double its automation at this New Jersey warehouse by the end of the year.
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