CVS beats net income estimates in Q2
Woonsocket, R.I. – CVS Caremark Inc. beat Wall Street estimates with net income of $1.2 billion in the second quarter of fiscal 2014, up 11% from $1.1 billion in year-ago period. CVS cited increased generic drug dispensing rates and favorable Medicaid reimbursement from the state of California as aiding net income results.
Net revenues also grew 11% to $34.6 billion, from $31.2 billion. Increased pharmacy services sales and revenue from the new Specialty Connect program for holders of specialty prescriptions boosted net revenue totals. Same-store sales grew 3.3%, negatively impacted by the elimination of tobacco sales but aided by a shift in the Easter holiday.
Walgreens same-store sales rise 5.2% in July
Deerfield, Ill. – Same-store sales at Walgreen Co. rose 5.2% in July. Walgreens had July sales of $6.39 billion, an increase of 6.1% from $6.02 billion for the same month in fiscal 2013.
Total front-end sales increased 1.4% in July compared with the same month in fiscal 2013, while same-store front-end sales increased 1.1%. Same-store customer traffic decreased 2.6% while basket size increased 3.7%.
Mayors Jewelers to offer Alliance Data private label credit cards
Tamarac, Fla. – Mayors Jewelers, a brand of Birks Group Inc., will use private label credit card services from Alliance Data Systems Corp. Alliance Data is offering a customized, multi-channel credit program for the Mayors Jewelers brand, designed to help deliver incremental sales, cross-product selling and increased transaction size.
The Mayors credit card program offers reward certificates based on annual spending levels. Mayors also has access to Alliance Data’s "in the moment" acquisition tools, in addition to advanced analytics and consumer insight capabilities. Alliance Data will work with Mayors to leverage Web and mobile tools to drive credit card applications and to further engage card members through expanded customer-relevant tools