WOONSOCKET, R.I. — Drugstore chain CVS Corp. has posted a 16 percent increase in first quarter income.
The company reported net earnings of $221.7 million, or 54 cents per diluted share, compared with $191.3 million, or 47 cents per share, during the same period a year ago. The company reported total sales of $5.4 billion for the quarter, compared to $4.7 billion in the year-ago period. Same-store sales (sales at stores open at least one year) rose by 11.3 percent, with same-store pharmacy sales up 17.6 percent. Same-store pharmacy sales made up 67 percent of total sales for the quarter, the company said.
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Shares of CVS closed at $59.69 yesterday. The stock has traded as low as $33.25 and as high as $63.75 over the past year.
