This is a nice change from the stream of announcements of store closings. CVS is developing a new concept high-end beauty store.
CVS Caremark Corp will begin testing a high-end beauty store concept this year, looking to tap into growing demand for skin care and cosmetics seen at outlets like LVMH's Sephora chain.
The drug store chain operator plans to open a store called "Beauty 360" by the end of the year next to existing CVS stores on the U.S. East Coast and another on the West Coast shortly thereafter, CVS spokeswoman Eileen Howard Dunn said on Friday.
She declined to say where the stores would be located. But Women's Wear Daily, which first reported the news, said the first would be opened in Washington, D.C., and the second in Sacramento, California.