The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
Beauty 360 sold boutique-brand cosmetic lines.
CVS Caremark Corp. will close its online and boutique-style Beauty 360 stores this May. The drug store chain says it wants to refocus its efforts on its primary beauty business, which CVS says appeals to a wider group of consumers.
Beauty360.com and the 25 Beauty 360 stores CVS opened over the last four years sold up-market cosmetics, skincare and fragrance brands, such as Cargo and Vincent Longo, whereas CVS.com and CVS stores typically sell mostly mass-market brands like Cover Girl and Revlon.
CVS points to recent developments it made to its mass-market beauty business and says it wants to develop those further. CVS last year launched a loyalty program for CVS customers called Beauty Club, which CVS says already has 10 million members. The retailer also launched a private label brand with actress Salma Hayek. “This kind of success within our core beauty offering clearly demonstrates the tremendous opportunity we have to maintain and grow our leadership position in beauty through our CVS/pharmacy stores,” a CVS spokeswoman says.
Beauty360.com and Beauty 360 stores will close May 19.
CVS is No. 83 in Internet Retailer’s Top 500 Guide.
Felicity Lewis, executive director of global online and CRM at Jurlique Holistic Skin Care Inc., a manufacturer and e-retailer of high-end skincare products, will speak this June at the Internet Retailer Conference & Exhibition 2012 in Chicago in a session titled “Six keys to an effective global e-commerce operation.” The IRCE $200 early-bird discount expires Mar. 31.