CVS/Pharmacy (CVS) Reports Increase in May Same-Store Sales
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CVS Caremark Corporation (NYSE: CVS) announced that same store sales (sales from retail pharmacy stores open more than one year) in its CVS/pharmacy division for the four weeks ended May 26, 2007 increased 6.2% over the prior year period.
Pharmacy same store sales increased 6.0%, and were negatively impacted by approximately 590 basis points due to recent generic introductions. Front-end same store sales increased 6.6%. 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.
Pharmacy same store sales increased 6.0%, and were negatively impacted by approximately 590 basis points due to recent generic introductions. Front-end same store sales increased 6.6%. 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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