Woonsocket-based CVS Corp. announced Thursday that total sales for the four-week period ended May 27 increased 10.7 percent to $3.2 billion, compared with $2.9 billion in the prior-year period. Total pharmacy sales represented 69.7 percent of total company sales in May.
Same-store sales (sales from stores open more than one year) for the four weeks ended May 27 increased 8.4 percent over the prior-year period. Pharmacy same-store sales increased 9.4 percent, and were negatively impacted by approximately 230 basis points due to recent generic introductions. Front-end same-store sales increased 6.3 percent.
Beginning with the four weeks ended Aug. 27, 2005, same-store sales reflect the positive impact of the inclusion of approximately 1,100 stores acquired on July 31, 2004. The inclusion of the acquired stores benefited total May same-store sales by approximately 130 basis points, as both front-end and pharmacy same-store sales at the acquired stores positively impacted the overall results.
Year-to-date, total sales for the 21-week period ended May 27 increased 9.7 percent to $16.2 billion, compared with $14.8 billion in 2005. Same-store sales for the 21-week period increased 7.3 percent over the prior-year period. Pharmacy same-store sales increased 7.5 percent, while front-end same-store sales increased 6.6 percent.
CVS is the nation’s largest retail pharmacy, operating 5,493 retail and specialty pharmacy stores in 37 states and the District of Columbia.
