CVS Reports Record November Revenues of $3.6 Billion, up 23.3%
WOONSOCKET, R.I.--(BUSINESS WIRE)--Nov. 30, 2006--CVS Corporation (NYSE: CVS) today announced that total revenues for the four-week period ended November 25, 2006 increased 23.3% to $3.6 billion, compared to $2.9 billion in the prior year period, including the impact of the June 2, 2006, acquisition of 701 standalone Sav-On and Osco drugstores. Total pharmacy revenues represented 69.6% of total company revenues in November.
Same store sales (sales from stores open more than one year) for the four weeks ended November 25, 2006 increased 8.4% over the prior year period. Pharmacy same store sales increased 9.4%, despite being negatively impacted by approximately 360 basis points due to recent generic introductions. Front-end same store sales increased 6.1%. 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 revenues for the forty-seven week period ended November 25, 2006, increased 17.7% to $38.8 billion, compared to $33.0 billion in 2005. Same store sales for the forty-seven week period increased 8.1% over the prior year period. Pharmacy same store sales increased 8.9%, while front-end same store sales increased 6.3%.