CVS Earnings Up 23% on Pharmacy, Retail Sales
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Drugstore chain CVS Corp., based in Woonsocket, R.I., said Thursday that its second-quarter profit rose 23% on strong growth in pharmacy and retail sales, including health and beauty products and its digital photography business.
Net income grew to $334.4 million, or 40 cents a share, from $272.4 million, or 33 cents, a year earlier.
Revenue rose 16% to $10.56 billion from $9.12 billion in the previous year.
Quarterly same-store sales, or sales at stores open at least one year, grew 8.8%.
The company’s shares rose 71 cents to $33.90.
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