CVS Caremark Releases 1Q Earnings

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CVS Caremark Releases 1Q Earnings
May 07, 2008

Woonsocket, R.I.-based CVS Caremark Corp. reported net revenues of $21.3 billion for the first quarter ending March 29, 2008, compared to $13.2 billion for the same time period last year. Same-store sales increased 3.9 percent, with pharmacy same-store sales rising 3.7 percent and front-end same-store sales increasing 4.3 percent. Net earnings rose 83.1 percent to $748.5 million, versus $408.9 million. The company opened 41 new stores, closed 22 and relocated 53 locations. CVS Caremark operates approximately 6,349 stores in 44 states and the District of Columbia.

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