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Prescription drugs fuel CVS’ earnings beat as sales in the front of the store lag

August 8, 2018

Via: CNBC
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CVS Health’ topped Wall Street’s expectations with its retail pharmacy business fueling growth despite fewer customers shopping in the front of its stores.

Revenue from CVS’ retail pharmacy segment reached $20.7 billion, up 5.7 percent from the year-ago quarter, driven by an 8.3 percent increase in pharmacy revenue. Revenue from front-end sales, which includes goods like greeting cards and household items, grew just 0.2 percent.

Same-store prescription volume surged 9.5 percent, while front-end same-store sales dipped 1 percent.

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