CVS Corporation Reports 12.1% Increase in October Same Store Sales.WOONSOCKET, R.I.--(BUSINESS WIRE)--Nov. 5, 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 October 24, 1998 increased 12.1% 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 17.8%. Total pharmacy sales represented 60.6% of total company sales for October. Total sales for the four-week period ended October 24, 1998 increased 14.0% to $1.2 billion, compared to $1.1 billion in the prior year period. Year-to-date, same store sales for the forty-three week period ended October 24, 1998 increased 10.2% over the prior year period, while pharmacy same store sales increased 16.0%. Total sales for the forty-three week period increased 9.8% to $12.3 billion, compared to $11.2 billion in 1997. On a stand-alone basis, CVS' same store sales advanced 12.4% in October, while Revco's increased 12.8%. Year-to-date, CVS' same store sales rose 11.8%, while Revco's increased 8.5%. CVS is the leading drug store chain in the Northeast, Mid-Atlantic, Southeast and Midwest regions. As of October 24, 1998, CVS operated 4,106 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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