CVS Corporation (NYSE: CVS – news) today announced that same store sales for the four weeks ended August 25, 2001 increased 8.1% over the prior year period. Pharmacy same store sales increased 12.3%, while front-end same store sales increased 0.8%.
Total sales for the four-week period ended August 25, 2001 increased 10.9% to $1.67 billion, compared to $1.50 billion in the prior year period. Total pharmacy sales represented 66.4% of total company sales in August.
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“We achieved good results in August given the difficult comparison to last year,” said Tom Ryan, Chairman, President, and Chief Executive Officer of CVS Corporation. “We are a little disappointed with pharmacy sales, but pleased that our front-end sales growth is improving. This improvement reflects our increased promotional activity during the month, as well as some early benefits from our ExtraCare loyalty program.”
Year-to-date, same store sales for the thirty-four week period ended August 25, 2001 increased 9.4% over the prior year period. Pharmacy same store sales increased 14.7%, while front-end same store sales increased 0.5%. Total sales for the thirty-four week period increased 12.1% to $14.18 billion, compared to $12.65 billion in 2000.
As of August 25, 2001, CVS operated 4,134 retail and specialty pharmacy stores in 32 states and the District of Columbia.
