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image: Shannon Stapleton / Reuters

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

August 8, 2018

Via: CNBC

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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