CVS Caremark 2Q revenues reach $21.1 billion

WOONSOCKET, R.I. CVS Caremark today reported that net revenues for the second quarter ended June 28, increased $437 million to $21.1 billion, up from $20.7 billion during the second quarter ended June 30, 2007.

Pharmacy same-store sales rose 3.7% and were negatively impacted by approximately 280 basis points due to recent generic introductions, while front-end same store sales increased 1.8%.

Tom Ryan, Chairman, president and ceo of CVS Caremark said, "This was another quarter of strong financial performance across our businesses. We delivered solid improvement in sales and gross margins and continued to exercise disciplined expense control. That enabled us to hit a record operating profit margin this quarter."