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WOONSOCKET, R.I.- CVS Corp. today announced that total sales for the four-week period ended May 29 increased 7.7 percent to $2.17 billion, compared with $2.01 billion in the prior-year period.
Same-store sales for the four weeks ended May 29 increased 6.1 percent over the prior-year period. Pharmacy same-store sales increased 5.9 percent, while front end same-store sales increased 6.5 percent. Total pharmacy sales represented 68.6 percent of total company sales in May.
Year-to-date, total sales for the 21-week period ended May 29 increased 7.8 percent to $11.10 billion, compared with $10.30 billion in 2003. Same-store sales for the 21-week period increased 6.1 percent over the prior-year period. Pharmacy same-store sales increased 7.7 percent, while front end same-store sales increased 2.8 percent.
As of May 29 CVS operated 4,194 retail and specialty pharmacy stores in 32 states and the District of Columbia. On April 5 the company announced that it had entered into a definitive agreement under which it would acquire approximately 1,260 Eckerd drug stores, located mainly in the southern United States, in addition to Eckerd Health Services, which includes Eckerd's mail-order and pharmacy benefit management businesses.
On June 1 the company announced that the FTC had granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for this transaction. The company anticipates that the Eckerd transaction will close during July.