1、1998 Was a Year of Tremendous Accomplishment At year-end,we operated 4,122 stores,solidifying our position asthe largest drugstore chain in America.We opened a record 382 new and relocated stores.We completely remodeled 1,900 Revco stores.We acquired the Arbor drugstore chain,making us the market le
2、aderin metropolitan Detroit,the nations 4th largest drugstore market.We now rank#1 in six of the top ten U.S.drugstore markets.We filled more prescriptions than any other retailer in America.Our total sales increased 11.1%to$15.3 billion.Same store salesrose 10.8%,while pharmacy same store sales jum
3、ped 16.5%.his year,you can view our entire Annual Report on CVS Investor InformationWeb site.Our updated Web site provides the public with easy access to importantcorporate information.The Investor Information portion of our Web site alsoincludes a feature that enables interested parties to receive
4、an e-mail notification ofnew information on the site,such as news releases,calendar updates and SEC fil-ings.The site also contains investment highlights,stock charts,shareholder infor-mation,and answers to frequently-asked questions.While visiting CVS Web site,you can also have your prescription re
5、filled,readthe latest health news,explore our merchandising initiatives and find the locationof the CVS store nearest you.We invite you to visit our site at www.CVS.com.T TFinancial HighlightsIn millions,except per share data19981997%ChangeSales$15,273.6$13,749.611.1%Operating profit*940.5779.120.7E
6、arnings from continuing operations*510.1419.221.7Diluted earnings per common sharefrom continuing operations*1.261.0520.0Closing stock price per common share5571.7Total market capitalization21,461.611,042.394.4Sales(In Billions)Operating Profit*(In Millions)Earnings fromContinuing Operations*(In Mil