Woonsocket-based CVS Corp. (NYSE:CVS) announced Sept. 5 that total revenues for the four-week period ended Aug. 26 were up 23.4 percent, to $3.4 billion, from $2.8 billion in the year-ago period. Total pharmacy revenues represented 70.4 percent of total company revenues in August, the company said.
Those figures included the impact of the company’s June 2 acquisition of 701 standalone Sav-On and Osco drugstores.
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Same-store sales (sales from stores open more than one year) for the four weeks ended Aug. 26 were up 8.9 percent from the year-ago year period. Pharmacy same-store sales rose 10.3 percent, despite the negative impact (about 240 basis points) of recent generic-drug introductions. Front-end same-store sales increased 5.8 percent.
(Same-store sales do not include the drugstores acquired on June 2; those stores will be included in same-store sales after the acquisition’s one-year anniversary. That is, beginning in fiscal July 2007.)
Year-to-date total revenues, for the 34 weeks ended Aug. 26, were up 15.2 percent to $27.4 billion, compared with $23.8 billion for the same period in 2005.
Same-store sales for the 34-week period were up 7.9 percent, year-over-year. Pharmacy same-store sales increased 8.5 percent, CVS said, while front-end same-store sales increased 6.4 percent.
CVS, the nation’s largest retail pharmacy chain, operated 6,163 retail and specialty pharmacy stores in 43 states and the District of Columbia as of Aug. 26. Besides its CVS/pharmacy stores, and the online pharmacy CVS.com, it also operates PharmaCare, a benefit management, mail order and specialty pharmacy subsidiary.
Further information is available through the Investor Relations portion of the company Web site, at http://investor.CVS.com.
