CVS Corporation Reports 10.7% Increase in May Same Store Sales.WOONSOCKET, RI--(BUSINESS WIRE)--June 4, 1998--CVS Corporation (NYSE NYSE See: New York Stock Exchange :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. ) 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 four weeks ended May 23, 1998 increased 10.7% over the prior year period. Pharmacy same store sales rose 15.0%. Total pharmacy sales represented 57% of total company sales for May. Total sales for the four-week period ended May 23, 1998 increased 9.9% to $1.2 billion, compared to $1.1 billion in the prior year period. Same store sales for the twenty-one week period ended May 23, 1998 increased 9.3% over the prior year period. Pharmacy same store sales, year-to-date, increased 14.7%. Total sales for the twenty-one week period increased 7.9% to $6.0 billion, compared to $5.5 billion in 1997. On a stand-alone basis, CVS' same store sales advanced 11.9% in May, while Revco's increased 9.9%. For the twenty-one week period ended May 23, 1998, CVS' same store sales rose 11.5%, while Revco's increased 6.9%. "CVS' excellent performance in May was driven by strong comps in both the pharmacy and the front of the store," said Tom Ryan
Tom Ryan (born August 3 1986), who plays under the pseudonym Ogre 2, is a professional gamer from Pickerington, Ohio, USA. , President and Chief Executive Officer. "The healthy pharmacy comps reflect continued growth in managed care, while the outstanding front store results were fueled by the promotional name change events launched in Revco markets as well as our successful "Beauty Month" promotion. This event generated strong growth in the cosmetics and skin care categories in both CVS and Revco markets." CVS is the leading drug store chain in the Northeast, Mid-Atlantic, Southeast and Midwest regions. As of May 23, 1998, CVS operated 4,076 stores in 25 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). . General information about CVS, including corporate background and press releases, is available through CVS' web site at http://www.CVS.com. CONTACT: Investor: Nancy Christal Media: Fred McGrail Vice President Director Investor Relations Investor relations The process by which the corporation communicates with its investors. Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. (914) 722-4704 (401) 765-1500, ext. 4630 |
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