CVS Corporation March Sales Increase 9.4% to a Record $3.9 Billion.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 April 1, 2006 increased 9.4 % to $3.9 billion, compared to $3.5 billion in the prior year period, despite being negatively impacted by a later Easter. Total 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. sales represented 71.4% of total company sales in March. 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 April 1, 2006 increased 7.0% over the prior year period. Pharmacy same store sales increased 9.1%, and were negatively impacted by approximately 200 basis points due to recent generic introductions. Front-end same store sales increased 2.3%. As expected, March sales were negatively impacted by a later Easter (April 16th this year versus March 27th last year), which shifted more holiday sales into April. The Company estimates the Easter shift had a negative impact of approximately 500 basis points on front-end same store sales for the five-week period. Beginning with the four weeks ended August 27, 2005, same store sales reflect the positive impact of the inclusion of approximately 1,100 stores acquired on July 31, 2004. The inclusion of the acquired stores benefited total March same store sales by approximately 160 basis points, as both front-end and pharmacy same store sales at the acquired stores positively impacted the overall results. Year-to-date, total sales for the thirteen-week period ended April 1, 2006, increased 8.7% to $10.0 billion, compared to $9.2 billion in 2005. Same store sales for the thirteen-week period increased 6.2% over the prior year period. Pharmacy same store sales increased 6.8%, while front-end same store sales increased 4.7%. CVS is America's largest retail pharmacy, operating 5,483 retail and specialty pharmacy stores in 37 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 April 1, 2006. 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 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. , 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 pressroom portion of the Company's website, at www.cvs.com/pressroom. |
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