CVS Corporation August Sales Increase 8.4%.Business Editors WOONSOCKET, R.I.--(BUSINESS WIRE)--Sept. 3, 2003 CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. Corporation (NYSE NYSE See: New York Stock Exchange : CVS) today announced that total sales for the four-week period ended August 23, 2003 increased 8.4% to $1.96 billion, compared to $1.80 billion in the prior year period. Total pharmacy sales represented 69.2% of total company sales in August. Same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of (sales from stores open more than one year) for the four weeks ended August 23, 2003 increased 6.4% over the prior year period. Pharmacy same store sales increased 8.7%, despite being negatively impacted by approximately 70 basis points due to recent generic introductions, which are being substituted for higher priced brand named drugs. Front-end same store sales increased 1.6%. August sales were impacted by a blackout in the Northeast region, which affected approximately 730 stores. The Company estimates the blackout had a negative impact of approximately 50 basis points on front-end same store sales and approximately 20 basis points on total same store sales for the four-week period. Year-to-date, total sales for the thirty-four week period ended August 23, 2003, increased 7.1% to $16.64 billion, compared to $15.54 billion in 2002. Same store sales for the thirty-four week period increased 5.0% over the prior year period. Pharmacy same store sales increased 7.6%, despite being negatively impacted by approximately 180 basis points due to recent generic introductions. Front-end same store sales decreased 0.2%. As of August 23, 2003, CVS operated 4,124 retail and specialty pharmacy stores in 32 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . Celebrating 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 over 4,100 CVS/pharmacy(R) stores, its online pharmacy  This article or section may deal primarily with the U.S. and may not present a worldwide view. ; CVS.com(R) and its pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. and specialty pharmacy subsidiary, PharmaCare Management Services. General information about CVS is available through the Investor Relations Investor relationsThe process by which the corporation communicates with its investors. portion of the Company's website, at http://investor.cvs.com. |
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