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CVS/Arbor drug chain sales will top $15 bil. at 4,100 stores post-merger.

This article was originally published in The Tan Sheet

Executive Summary

CVS/ARBOR REVENUES WILL TOP $15 BIL. AT 4,100 STORES based on the combined drug chains' 1998 revenues, CVS predicted following the Feb. 9 announcement it has reached a definitive agreement to acquire Arbor Drugs for $1.48 bil. With combined revenues of more than $15 bil., CVS will rival number one Walgreens, which had revenues of $13.4 bil. in fiscal 1997 (ended Aug. 31). By comparison, Rite Aid expects fiscal 1998 (ending March 1) net revenues of approximately $12 bil.
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