CVS May sales up 6.2% as store network grows

WOONSOCKET – In the four weeks ended May 26, sales at CVS/pharmacy stores open more than one year increased 6.2 percent compared with the same period in 2006, CVS Caremark Corp. said.
Pharmacy same-store sales increased 6.0 percent, despite the impact of recent generic introductions that shaved an estimated 590 basis points from the total. Front-end sales rose 6.6 percent.
During the period, the company opened 15 new stores, relocated five and closed five, ending with 6,168 CVS/pharmacy stores in 40 states and the District of Columbia.
For the first 21 weeks of the year, same-store sales increased 6.8 percent compared with the year-ago period. Pharmacy same-store sales increased 7.1 percent while front-end sales increased 6.1 percent.
Along with its stores, CVS operates the CVS.com online pharmacy, the Caremark Pharmacy Services pharmacy benefit management, mail order and specialty pharmacy division; and the MinuteClinic retail-based health care subsidiary.