CVS shares near high as flu drives traffic
As people flocked to drugstores for flu shots or symptom relief, drugstores such as those of CVS Caremark Corp. racked up sales, with shares at a Friday close of $51.18 per share, near the 12-month high.
The company reported that visits to its MinuteClinic broke records.
The company's same-store sales were up 4 percent over the year-ago quarter, beating Wall Street's expectations.
Sales were fueled in part by what the U.S. Centers for Disease Control and Prevention has said may turn out to be the worst flu season in a decade.
As people sought relief from influenza symptoms, they visited their local pharmacies and purchased a range of products that typically are bought at grocery or big-box stores.
CVS's revenue was $31.4 billion, up from $31.13 billion.
Nationwide, sales of over-the-counter products soared 24 percent.
The Woonsocket, R.I.-based CVS operates 6,200 drugstores in 43 states, including many in Northeast Pennsylvania.
Caremark has a prescription fulfillment center in the Hanover Crossings industrial park in Luzerne County.