CVS Corporation Reports 11.3% Increase in February Same Store Sales.WOONSOCKET, R.I.--(BUSINESS WIRE)--March 2, 1999--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 February 20, 1999 increased 11.3% over the prior year period. 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. same store sales rose 20.4%. Total pharmacy sales represented 57% of total company sales in February versus 54% in the prior year period. Total sales for the four-week period ended February 20, 1999 increased 15.7% to $1.344 billion, compared to $1.161 billion in the prior year period. Year-to-date, same store sales for the eight-week period ended February 20, 1999 increased 11.3% over the prior year period, while pharmacy same store sales increased 19.1%. Total sales for the eight-week period increased 14.9% to $2.603 billion, compared to $2.264 billion in 1998. CVS is the leading drug store chain in the Northeast, Mid-Atlantic, Southeast and Midwest regions. As of February 20, 1999, CVS operated 4,095 stores in 24 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. |
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