CVS Corporation June Sales Increase 31.4%.WOONSOCKET, R.I. -- 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 five-week period ended July 2, 2005 increased 31.4% to $3.5 billion, compared to $2.7 billion in the prior year period. The increase includes the impact of the acquisition completed on July 31, 2004, of 1,268 Eckerd drugstores, as well as Eckerd's 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 mail order pharmacy pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. business. Total pharmacy sales represented 70.0% of total company sales in June. 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 five weeks ended July 2, 2005 increased 5.8% over the prior year period. Pharmacy same store sales increased 6.7%, despite being negatively impacted by approximately 210 basis points due to recent generic introductions, which are being substituted for higher priced brand named drugs. Front-end same store sales increased 4.1%. Same store sales do not include the acquired Eckerd drugstores, which will be included in same store sales beginning in August 2005. For the second quarter, total sales increased 31.4% to $9.1 billion, compared to $6.9 billion in the prior year period. Same store sales for the thirteen weeks ended July 2, 2005 increased 5.6% over the prior year period. Pharmacy same store sales increased 7.4%, while front-end same store sales increased 1.7%. Quarterly sales were negatively impacted by an earlier Easter (March 27th this year versus April 11th last year), which shifted more holiday sales into the first quarter. The Company estimates the Easter shift had a negative impact of approximately 130 basis points on front-end same store sales. Total pharmacy sales represented 70.6% of total company sales in the quarter. Year-to-date, total sales for the twenty-six week period ended July 2, 2005, increased 33.0% to $18.3 billion, compared to $13.8 billion in 2004. Same store sales for the twenty-six week period increased 6.9% over the prior year period. Pharmacy same store sales increased 8.1%, while front-end same store sales increased 4.2%. CVS is America's largest retail pharmacy, operating 5,439 retail and specialty pharmacy stores in 36 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). as of July 2, 2005. 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  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, mail order and specialty pharmacy subsidiary, PharmaCare(R). 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, as well as through the press room portion of the Company's website, at www.cvs.com/pressroom. |
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