CVS Corporation (CVS) Reports Increase in November Same-Store Sales
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CVS Corporation (NYSE: CVS) announced that total revenues for the four-week period ended November 25, 2006 increased 23.3% to $3.6 billion, compared to $2.9 billion in the prior year period, including the impact of the June 2, 2006, acquisition of 701 standalone Sav-On and Osco drugstores.
Total pharmacy revenues represented 69.6% of total company revenues in November.
Same store sales for the four weeks ended November 25, 2006 increased 8.4% over the prior year period. Pharmacy same store sales increased 9.4%, despite being negatively impacted by approximately 360 basis points due to recent generic introductions.
Front-end same store sales increased 6.1%. Same store sales do not include the drugstores acquired on June 2, 2006, which will be included in same store sales following the one-year anniversary of the acquisition, beginning in fiscal July 2007.
Total pharmacy revenues represented 69.6% of total company revenues in November.
Same store sales for the four weeks ended November 25, 2006 increased 8.4% over the prior year period. Pharmacy same store sales increased 9.4%, despite being negatively impacted by approximately 360 basis points due to recent generic introductions.
Front-end same store sales increased 6.1%. Same store sales do not include the drugstores acquired on June 2, 2006, which will be included in same store sales following the one-year anniversary of the acquisition, beginning in fiscal July 2007.
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