Sales up at CVS

CVS Caremark Corp., the Rhode Island company best known for its CVS/pharmacy chain, said today that its same-store sales rose 4.9 percent for the four-week period ending Aug. 25 when compared with the same period in 2006.

Same-store sales, which measure activity at stores open at least a year, are considered a key barometer of a retailer's health.

CVS of Woonsocket said that the recent introduction of generic drug products had a slight negative impact on its sales of pharmacy products.

During the four-week period, CVS said it opened 15 stores, closed three, and relocated 13 others.

Earlier this year, CVS paid $26.5 billion to acquire Caremark Rx Inc. of Nashville, a pharmacy benefits management company.

Analysts said the acquisition would give CVS more bargaining power in negotiating discounts from pharmaceutical companies.
(By Chris Reidy, Globe staff)