CVS Q3 profit leaps 16% on higher sales
Woonsocket, R.I. — CVS Caremark Corp. reported Tuesday that net income for the quarter ended Sept. 30 jumped 16% to $1.01 billion, compared with $868 million in the year-ago period. Results were boosted by a 13.3% increase in revenue to $30.2 billion, which edged Wall Street’s forecast of $30.09 billion in revenue.
Drugstore revenue rose 5.5% to $15.5 billion, and same-store sales climbed 4.3%, helped by the influx of Walgreens customer who switched to CVS during the split between Walgreen Co and Express Scripts Holding Co.
“The retail pharmacy business continued to capitalize on the market disruption resulting from the impasse between two of our competitors," said Larry Merlo, CEO.
Vitamin Shoppe Q3 profit rises 37%; on track to open 57 stores in 2013
North Bergen, N.J. — Vitamin Shoppe Inc. reported Tuesday that net income for the third quarter leaped 36.8% to $16.3 million, from $11.9 million last year.
Revenue rose 14.4% to $239 million, missing Wall Street’s expectations of $241.8 million in revenue. Same-store sales surged 9.6%, marking the company’s 28th consecutive quarter of positive comps.
For the current year, Vitamin Shoppe said it expects to open 52 new stores and, for fiscal 2013, the preliminary forecast is to open 57 new stores.
Report: Amazon packages for pick-up at Staples
New York — According to a Monday report by Reuters, Staples will install Amazon lockers inside its U.S. stores, providing consumers an alternative location to receive packages from the online retailer.
According to the report, customers are sent an email code with a pickup code for opening the locker. Shoppers then have three days to retrieve the package.