CVS Corporation Reports Record February Revenue of $3.8 Billion, up 22.5%.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 revenue for the four-week period ended February 24, 2007 increased 22.5% to $3.8 billion, compared to $3.1 billion in the prior year period. Total pharmacy revenue represented 68.3% of total company revenue in February. 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 four weeks ended February 24, 2007 increased 7.0% over the prior year period. Pharmacy same store sales increased 7.4%, despite being negatively impacted by approximately 410 basis points due to recent generic introductions. Front-end same store sales increased 6.2%. Same store sales do not include the drugstores acquired on June 2, 2006, which will be included in same store sales following the one-year anniversary of the acquisition, beginning in fiscal July 2007. Year-to-date, total revenue for the eight-week period ended February 24, 2007, increased 23.3% to $7.5 billion, compared to $6.1 billion in 2006. Same store sales for the eight-week period increased 7.8% over the prior year period. Pharmacy same store sales increased 8.1%, while front-end same store sales increased 7.1%. CVS is America's largest retail pharmacy, operating 6,196 retail and specialty pharmacy stores in 43 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 February 24, 2007. 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 innovatively serves the healthcare needs of all customers through its CVS/pharmacy stores; its online pharmacy  This article or section may deal primarily with the U.S. and may not present a worldwide view. , CVS.com; its retail-based health clinic subsidiary,
MinuteClinic; 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. 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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