Retail News

CVS posts sales and earnings gains

TheStreet 05/06/2020

CVS’s front of store sales jumped eight percent in the first quarter and its pharmacy sales were up nine percent as shoppers flocked to the chain’s stores during the coronavirus outbreak. The drugstore chain’s earnings per share came in 28 cents above Wall Street’s expectations. “When facing any health crisis, including this pandemic, we’re uniquely positioned to understand consumer and patient needs and how to address them. This includes increasing access to medicine and virtual care, and testing thousands for the virus every day to ready our country to reopen safely,” said CEO Larry Merlo in a statement. “We’re utilizing our innovation-driven health care model, scale and unique capabilities to benefit consumers across the health care system, and none of this could be done without the tireless dedication of our colleagues.”

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