CVS Profit Rises 25% on 8% Increase in Sales
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From Bloomberg News
CVS Corp. said first-quarter profit rose 25% and the drugstore chain planned to close 200 to 225 of the Eckerd stores it is buying from J.C. Penney Co.
Net income increased to $244.6 million, or 59 cents a share, from $196.3 million, or 48 cents, a year ago, the Woonsocket, R.I.-based company said. Sales climbed 8% to $6.82 billion.
Shares of CVS rose 54 cents to $40.53 on the NYSE.
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