CVS Corporation December Sales Increase 8.2%.Business Editors WOONSOCKET, R.I.--(BUSINESS WIRE)--Jan. 8, 2002 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 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 for the five weeks ended December 29, 2001 increased 7.1% over the prior year period. Pharmacy same store sales increased 9.0%, while front-end same store sales increased 4.2%. Total sales for the five-week period ended December 29, 2001 increased 8.2% to $2.46 billion, compared to $2.27 billion in the prior year period. Total pharmacy sales represented 61.9% of total company sales in December. "Our front-end sales clearly have been trending well over the past few months," said Tom Ryan
Tom Ryan (born August 3 1986), who plays under the pseudonym Ogre 2, is a professional gamer from Pickerington, Ohio, USA. , Chairman, President and Chief Executive Officer. "Pharmacy same store sales were impacted by a significantly weaker flu season. Given that we were up against a pharmacy comp of over 20% in December last year, I am very pleased with our results," concluded Mr. Ryan. For the fourth quarter, same store sales increased 7.5% over the prior year period. Pharmacy same store sales increased 10.1%, while front-end same store sales increased 3.1%. Total sales for the fourth quarter increased 8.4% to $5.95 billion, compared to $5.49 billion in the prior year period. Total pharmacy sales represented 64.9% of total company sales in the fourth quarter. Same store sales for the fifty-two week period ended December 29, 2001 increased 8.6% over the prior year period. Pharmacy same store sales increased 13.0%, while front-end same store sales increased 1.2%. Total sales for the fifty-two week period increased 10.7% to $22.24 billion, compared to $20.09 billion in 2000. Total pharmacy sales represented 66.1% of total company sales for the year. The Company will report its full year results on February 5, 2002. As of December 29, 2001, CVS operated 4,191 retail and specialty pharmacy stores in 33 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). . CVS is America's no.1 pharmacy dispensing prescriptions in more stores than any other retailer. With annual revenues exceeding $22 billion, CVS has created innovative approaches to serve the healthcare needs of all of our customers through its more than 4,100 CVS/pharmacy stores; CVS ProCare, its specialty pharmacy business; CVS.com, its online pharmacy; and PharmaCare, 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. company. General information about CVS is available through the Investor Relations Investor relations The process by which the corporation communicates with its investors. portion of the Company's website, at http://www.CVS.com. |
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