|CVS Corporation October Sales Increase 30.3%, Reflecting Acquired Stores|
WOONSOCKET, R.I., Nov 9, 2004 (BUSINESS WIRE) -- CVS Corporation (NYSE:CVS) today announced that total sales for the four-week period ended October 30, 2004 increased 30.3% to $2.63 billion, compared to $2.02 billion in the prior year period, reflecting the impact of the acquisition completed on July 31, 2004, of 1,268 Eckerd drugstores, as well as Eckerd's pharmacy benefit management and mail order pharmacy business. Total pharmacy sales represented 71.8% of total company sales in October.
Same store sales (sales from stores open more than one year) increased 5.4% over the prior year period for the four weeks ended October 30, 2004. Pharmacy same store sales increased 6.5%, while front-end same store sales increased 3.1%. Same store sales do not include the sales results of the acquired drugstores mentioned above. The acquired stores will be included in same store sales following the one-year anniversary of the acquisition, beginning in fiscal August 2005.
Year-to-date, total sales for the forty-three week period ended October 30, 2004, increased 14.9% to $24.30 billion, compared to $21.16 billion in 2003. Same store sales for the forty-three week period increased 5.8% over the prior year period. Pharmacy same store sales increased 7.3%, while front-end same store sales increased 2.7%.
CVS is America's #1 retail pharmacy, operating 5,368 retail and specialty pharmacy stores in 36 states and the District of Columbia as of October 30, 2004. With more than 40 years of dynamic growth in the retail pharmacy industry, CVS is committed to being the easiest pharmacy retailer for customers to use. CVS has created innovative approaches to serve the healthcare needs of all customers through its CVS/pharmacy(R) stores; its online pharmacy, CVS.com(R); and its pharmacy benefit management and specialty pharmacy subsidiary, PharmaCare(R)Management Services. General information about CVS is available through the Investor Relations portion of the Company's website, at http://investor.CVS.com.
SOURCE: CVS CorporationCVS Corporation
Nancy Christal, 914-722-4704
Eileen Howard Dunn, 401-770-4561