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« Group to protest Carcieri's order vs. illegal immigrants | Today | Update: Barrington teen's hearing postponed » May 1, 2008CVS reports hike in first-quarter profitsWoonsocket-based CVS Caremark Corp., the largest U.S. drugstore chain by number of stores, said first-quarter profit increased after it acquired pharmacy-benefits manager Caremark RX Inc. last year. Net income climbed to $748.5 million, or 51 cents a share, from $408.9 million, or 43 cents, a year earlier, CVS said today. Sales rose to $21.3 billion, trailing analysts' estimates. Rising gasoline costs kept shoppers closer to home to fill their prescriptions, benefiting CVS. Contracts to administer pharmacy benefits, including one concluded with AT&T Inc. last month, will propel growth, Matt Kaufler, a portfolio manager with Clover Capital Management in Rochester, New York, told Bloomberg News. “Their future is increasingly tied to that,” said Kaufler, whose firm manages $2.6 billion in assets. -- Journal Business Editor John Kostrzewa Posted by Jack Perry CommentsJoseph Steemburgen | May 1, 2008 9:50 AM link Are those janitors outsourced? Much of their labor is outsourced. j | May 1, 2008 10:20 AM link If capitalism offends you so much, feel free to go somewhere where it doesn't exist. I hear Cuba has the latest in 1950's technology, and China executes people who don't like their economics. EMT | May 1, 2008 1:37 PM link That's great news! Now they'll have plenty of money to bribe our legislators and get away with it! Tom | May 1, 2008 2:08 PM link When oil companies make a profit, every yells for the gas price to be reduced. I'm waiting for the price of CVS aspirin to be reduced. Mike | May 1, 2008 3:57 PM link Post a commentPlease be civil. Vicious comments, personal attacks and profanity won't be published. Name and email are required; email address will not publish. |
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ProJo 9 to 5 News Blog
Oct 2005 - March 2006
I'm so happy to see them getting millions in profits while they pay their janitors at their headquarters 7.50 per hour to keep their toilets clean and their offices spic and span.