CVS reports 14.7% increase in November same store sales.WOONSOCKET, RI--(BUSINESS WIRE)--December 4, 1996--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 reported strong 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 gains for the four week period ended November 23, 1996. CVS same store sales increased 14.7% over the prior year period, with pharmacy same store sales rising 21.7%. Pharmacy sales represented 46.5% of the total sales volume in November. CVS' total sales for the four week period increased 17.9% to $444.0 million from $376.5 million for the comparable prior year period. This year's November sales results do not include Thanksgiving, which will fall into the December reporting period. Adjusting November sales to include Thanksgiving, typically a low-volume day for drug stores, same store sales would have increased 11.2%. Same store sales for the forty seven week period ended November 23, 1996 increased a record 11.1% over the prior year period. CVS' total sales for the forty seven week period were $4.86 billion, an increase of 14.5% from sales of $4.24 billion for the comparable period last year. 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 Office of CVS/pharmacy, commented: "Our same store sales performance was exceptionally robust in November in both our higher-margin front store business and our pharmacy business. We remain on track for a strong fourth quarter." As of November 23, 1996, CVS operated 1,408 stores in 15 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). , an increase of 3.0% from the total of 1,367 stores as of November 25, 1995. CVS, with annual sales of $4.9 billion in 1995, is the leading drugstore chain in the Northeast and Middle Atlantic Adj. 1. middle Atlantic - of a region of the United States generally including Delaware; Maryland; Virginia; and usually New York; Pennsylvania; New Jersey; "mid-Atlantic states" mid-Atlantic regions with the No. 1 market share position in 21 of the 30 markets it serves and the No. 2 position in four others. CONTACT: Investor Contact: Nancy Christal Vice President Investor Relations Investor relations The process by which the corporation communicates with its investors. (914) 722-4704 or Media Contact: Kekst and Company Jim Fingeroth Wendi Kopsick (212) 593-2655 |
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