Woonsocket-based CVS Corporation announced that total sales for the four-week period ended Aug. 23 increased 8.4 percent to $1.96 billion, compared to $1.80 billion in the prior year period. Total pharmacy sales represented 69.2 percent of total company sales in August.
Same store sales (sales from stores open more than one year) for the four weeks ended Aug. 23 increased 6.4 percent over the prior year. Pharmacy same store sales increased 8.7 percent, despite being negatively impacted by approximately 70 basis points due to recent generic introductions, which are being substituted for higher priced brand named drugs.
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Front-end same store sales increased 1.6 percent.
August sales were impacted by a blackout in the Northeast region, which affected approximately 730 stores. The company estimates the blackout had a negative impact of approximately 50 basis points on front-end same store sales and approximately 20 basis points on total same store sales for the four-week period.
