CVS November Same-Store Sales Rose 10.5% - TheStreet

CVS November Same-Store Sales Rose 10.5%

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CVS

(CVS) - Get Report

said November same-store sales rose 10.5%, while pharmacy same-store sales rose 15.6%.

The drugstore chain, which is based in Woonsocket, R.I., said the timing of Thanksgiving, which came in the November reporting period this year as opposed to December in the previous year, reduced same-store sales because prescription volume was lower around the holiday. As a result, pharmacy sales were lowered by 4% and total sales by 2%. The company noted that this year's December sales should benefit as a result of the early holiday impact.

The company said total sales for the four-week period ended Nov. 25 rose 14.5% to $1.62 billion from $1.41 billion in the year-ago period. Pharmacy sales represented 64.6% of total company sales in November.

Shares of CVS were recently down 19 cents, or 0.4%, to $53.63 in

New York Stock Exchange

composite trading.