CVS Corporation today announced that same store sales (sales from stores open more than one year) for the four weeks ended August 24, 2002 increased 7.9% over the prior year period.
Front-end same store sales increased 1.3%, while pharmacy same store sales increased 11.4%, despite being negatively impacted by approximately 210 basis points due to recent generic introductions, which are being substituted for higher priced brand named drugs.
Total sales for the four-week period ended August 24, 2002 increased 8.2% to $1.80 billion, compared to $1.67 billion in the prior year period. Total pharmacy sales represented 68.1% of total company sales in August.
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Year-to-date, same store sales for the thirty-four week period ended August 24, 2002 increased 9.2% over the prior year period. Pharmacy same store sales increased 11.9%, while front-end same store sales increased 3.8%. Total sales for the thirty-four week period increased 9.6% to $15.54 billion, compared to $14.18 billion in 2001.
