CVS Corporation posted $3.66 billion in total sales for the five-week period that ended January 1, 2005. The figure represents an 8.9 percent increase over the $3.36 billion in sales in the six-week period ended January 3, 2004.
The company said total sales in fiscal 2003 benefited from an additional week, which generated $530.8 million in net sales. Total sales for the five-week period ended January 1, 2005, reflect the impact of the acquisition completed on July 31, 2004, of 1,268 Eckerd drugstores, as well as Eckerd’s pharmacy benefit management and mail order pharmacy business. Total pharmacy sales represented 66.6% of total company sales in December, CVS said in a release.
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Same store sales (sales from stores open more than one year) for the five weeks ended January 1, 2005, increased 4.6% over the comparable prior year five-week period. Pharmacy same store sales increased 7.0%, while front-end same store sales increased 0.4%. Same store sales do not include the acquired Eckerd drugstores, which will be included in same store sales beginning in August 2005.
For the full year, total sales for the fifty-two week period ended January 1, 2005, increased 15.1% to a record $30.59 billion, compared to $26.59 for the fifty-three week period ended January 3, 2004. Same store sales for the fifty-two week period increased 5.5% over the comparable prior year fifty-two week period. Pharmacy same store sales increased 7.0%, while front-end same store sales increased 2.3%.
