CVS Corporation today announced that same store sales (sales from stores open more than one year) for the four weeks ended July 27 increased 9.0 percent over the prior year period.
Front-end same store sales increased 2.5 percent, while pharmacy same store sales increased 12.3 percent, despite being negatively impacted by approximately 180 basis points due to recent generic introductions, which are being substituted for higher priced brand named drugs.
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Total sales for the four-week period ended July 27 increased 9.2 percent to $1.78 billion, compared to $1.63 billion in the prior year period. Total pharmacy sales represented 67.9 percent of total company sales in July.
Year-to-date, same store sales for the thirty-week period ended July 27, 2002 increased 9.3 percent over the prior year period. Pharmacy same store sales increased 12.0 percent, while front-end same store sales increased 4.2 percent. Total sales for the thirty-week period increased 9.8 percent to $13.74 billion, compared to $12.51 billion in 2001.
