Woonsocket-based CVS Corp., America’s largest retail pharmacy, announced Thursday that total sales for the five-week period ended April 1 increased 9.4 percent to $3.9 billion, compared to $3.5 billion in the prior year period, despite a later Easter. Total pharmacy sales represented 71.4 percent of total company sales in March.
Same store sales (sales from stores open more than one year) for the five weeks ended April 1 increased 7 percent over the prior year period. Pharmacy same store sales increased 9.1 percent, and were negatively impacted by approximately 200 basis points due to recent generic introductions. Front-end same store sales increased 2.3 percent.
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As expected, March sales were negatively impacted by a later Easter (April 16 this year vs. March 27 last year), which shifted more holiday sales into April. The company estimates the Easter shift had a negative impact of approximately 500 basis points on front-end same store sales for the five-week period.
