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Store Brand Sales Boost CVS Profits

November 3, 2008
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According to an article in the October 31 edition of The Providence Journal, CVS Caremark Corp., Woonsocket, R.I., saw third-quarter profit increase 6.7 percent, thanks in large part to strong sales of store brand products in its CVS/pharmacy stores. The October 31 edition of The Providence Business News reported that CVS also has completed its $2.9 billion acquisition of Longs Drug Stores, Walnut Creek, Calif. According to CVS, the acquisition provides CVS Caremark with Longs' 521 retail drugstores in California, Hawaii, Nevada and Arizona, as well as its Rx America subsidiary.

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