CVS reports 9.2% increase in December same store sales.WOONSOCKET, R.I.--(BUSINESS WIRE)--Jan. 7, 1997--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 five week period ended December 28, 1996. CVS same store sales increased 9.2% over the prior year period, with pharmacy same store sales rising 16.4%. CVS' total sales for the five week period increased 10.0% to $673.0 million from $611.6 million for the comparable prior year period. Same store sales for the fifty two week period ended December 28, 1996 increased 10.9% over the prior year period, with pharmacy same store sales rising 16.9%. CVS' total sales for the fifty two week period were $5.5 billion, an increase of 13.6% from sales of $4.9 billion for the comparable period last year. Pharmacy sales represented approximately 40% of total sales for December and 44% for the full 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, said, "CVS' strong performance in December reflects healthy sales increases throughout our business. Sales in the front end of our stores have benefited from the continued evolution of our category management approach, while growth in pharmacy sales continues to be driven by our increasing market share in the managed care arena. In addition, we have continued to see positive effects from our investments in technology, and, in particular, our RX2000 system and supply chain initiative, as well as from the continued relocation of stores from strip shopping centers shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into to more productive free-standing locations." As of December 28, 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 3.1% from the total of 1,366 stores as of December 30, 1995. CVS, with annual sales of $5.5 billion in 1996, 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: CVS Investor Contact: Nancy Christal (914) 722-4704 or Kekst & Company Media Contact: Jim Fingeroth or Wendi Kopsick, (212) 593-2655 |
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