|CVS Corporation April Sales Increase 11.8% to a Record $3.1 Billion|
WOONSOCKET, R.I.--(BUSINESS WIRE)--May 4, 2006--CVS Corporation (NYSE: CVS) today announced that total sales for the four-week period ended April 29, 2006 increased 11.8 % to $3.1 billion, compared to $2.8 billion in the prior year period. Total pharmacy sales represented 69.6% of total company sales in April.
Same store sales (sales from stores open more than one year) for the four weeks ended April 29, 2006 increased 9.7% over the prior year period. Pharmacy same store sales increased 8.1%, and were negatively impacted by approximately 210 basis points due to recent generic introductions. Front-end same store sales increased 13.4%.
As expected, April sales were positively impacted by a later Easter (April 16th this year versus March 27 th last year), which shifted more holiday sales into April. The Company estimates the Easter shift had a positive impact of approximately 680 basis points on front-end same store sales for the four-week period. Same store sales for the combined months of March and April 2006 increased 8.2 %, while pharmacy same store sales rose 8.7% and front-end same store sales increased 7.1%.
Beginning with the four weeks ended August 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 April same store sales by approximately 160 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 seventeen-week period ended April 29, 2006, increased 9.4% to $13.1 billion, compared to $12.0 billion in 2005. Same store sales for the seventeen-week period increased 7.0% over the prior year period. Pharmacy same store sales increased 7.1%, while front-end same store sales increased 6.7%.
CVS is America's largest retail pharmacy, operating 5,486 retail and specialty pharmacy stores in 37 states and the District of Columbia as of April 29, 2006. 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, mail order and specialty pharmacy subsidiary, PharmaCare(R). General information about CVS is available through the Investor Relations portion of the Company's website, at http://investor.CVS.com, as well as through the pressroom portion of the Company's website, at www.cvs.com/pressroom.
CONTACT: CVS Investors: Nancy Christal, 914-722-4704 or Media: Eileen Howard Dunn, 401-770-4561 SOURCE: CVS Corporation