CVS Corporation November Sales Increase 27.0%.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 four-week period ended November 27, 2004 increased 27.0% to $2.64 billion, compared to $2.07 billion in the prior year period, reflecting 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 business. Total pharmacy sales represented 71.3% of total company sales in November. 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) increased 3.1% over the prior year period for the four weeks ended November 27, 2004. Pharmacy same store sales increased 4.0%, while front-end same store sales increased 1.2%. Same store sales do not include the acquired Eckerd drugstores, which will be included in same store sales beginning in August 2005. The Company estimates Halloween related sales, which fell in October this year versus November last year, had a negative impact of approximately 160 basis points on front-end same store sales for the four week period. Partially offsetting this was a positive impact on front-end same store sales due to Thanksgiving Thanksgiving annual U.S. holiday celebrating harvest and yearly blessings; originated with Pilgrims (1621). [Am. Culture: EB, IX: 922] See : America Thanksgiving national holiday with luxurious dinner as chief ritual. [Am. Pop. , which fell in November this year versus December last year. However, the week of Thanksgiving historically produces lower pharmacy sales, primarily due to reduced store hours on the Thanksgiving holiday. The Company estimates the Thanksgiving shift had a negative impact of approximately 280 basis points on pharmacy same store sales for the four week period. Year-to-date, total sales for the forty-seven week period ended November 27, 2004, increased 16.0% to $26.94 billion, compared to $23.23 billion in 2003. Same store sales for the forty-seven week period increased 5.6% over the prior year period. Pharmacy same store sales increased 7.0%, while front-end same store sales increased 2.6%. CVS is America's #1 retail pharmacy, operating 5,379 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 November 27, 2004. 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 and specialty pharmacy subsidiary, PharmaCare(R)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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