|CVS Corporation December Same Store Sales Increase 9.7% While Pharmacy Same Store Sales Increased 20.1%|
WOONSOCKET, R.I.--(BUSINESS WIRE)--Jan. 4, 2000--CVS Corporation (NYSE: CVS) today announced that same store sales for the five-week period ended December 30, 2000 increased 9.7%, while pharmacy same store sales rose 20.1%. Total pharmacy sales represented 61% of total company sales in December.
Total sales for the five-week period ended December 30, 2000 were $2.27 billion compared to $2.39 billion for the six-week period ended January 1, 2000. On an equivalent five-week basis, total sales increased 13.5% to $2.27 billion, compared to $2.00 billion in 1999.
Same store sales for the fifty-two week period ended December 30, 2000 increased 10.9% over the comparable fifty-two week period in 1999, while pharmacy same store sales increased 17.7%. Total sales for the fifty-two week period ended December 30, 2000 increased 11.0% to $20.09 billion, compared to $18.10 billion in the fifty-three week period ended January 1, 2000. On an equivalent fifty-two week basis, total sales increased 13.4% to $20.09 billion, compared to $17.71 billion in 1999.
"I am pleased with our solid same store sales growth, especially in light of the tough year-ago comparisons. In December 1999, our results benefited from milder weather, an earlier flu season and, to a lesser degree, from Y2K-related sales," said Tom Ryan, Chairman, President and Chief Executive Officer. "Our pharmacy business continues to lead the industry. While our seasonal business was not as strong as last year, we continue to gain market share in pharmacy and all of our core front store categories," continued Mr. Ryan. "I remain confident in our ability to meet consensus earnings estimates for the fourth quarter and full year 2000," he concluded.
As of December 30, 2000, CVS operated 4,133 retail and specialty pharmacy stores in 31 states and the District of Columbia.
CVS is the No. 1 drugstore chain in the U.S. with stores in the Northeast, Mid-Atlantic, Southeast and Midwest regions of the country and the largest retail provider of prescriptions in the nation. General information about CVS is available through the Investor Relations portion of the Company's web site, at http://www.CVS.com.
This press release may contain certain forward-looking statements that are subject to risks and uncertainties. The potential risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company's Securities and Exchange Commission filings.