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Sales rise at CVS

CVS said Tuesday its total U.S. sales for the four-weeks ended May 1 jumped 7 percent to $2.12 billion from $1.98 billion from a year ago.

The drugstore reported that same store sales, or sales from stores open more than one year, for the four week period increased 5.4 percent from the prior year period.

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CVS said its pharmacy same store sales increased 7.3 percent, while front-end same store sales increased 1.4 percent. Total pharmacy sales represented 69.7 percent of total company sales in April.

The retailer said as expected, April sales were modestly impacted by an earlier Easter, which occurred on April 11 this year versus April 20 last year. The early holiday shifted more holiday sales into March.

Same store sales for the combined months of March and April increased 6.7 percent, while pharmacy same store sales improved 8.3 percent and front-end same store sales rose 3.2 percent.

CVS currently operates 4,191 retail and specialty pharmacy stores in 32 states and the District of Columbia. CVS back on April 5 announced that it will acquire 1,260 Eckerd drug stores.

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