Pharmacy retailer CVS has reported group net revenues for the second quarter ended June 30 increased 10.8% to $26.6bn (£16.3bn).

Revenues in the pharmacy services and retail pharmacy segments rocketed 23.2% to $14.6bn (£8.9bn) and 3.6% to $14.8bn (£9bn), respectively. Like-for-like sales increased 2% with pharmacy and front store like-for-likes up 2.6% and 0.8%, respectively. Front store sales were positively impacted by the shift of Sales related to the Easter holiday into the second quarter.

President and chief executive Larry Merlo said: “While our pharmacy services business performed as expected, the retail business exceeded our goals due to solid expense control and higher than expected generic utilisation.”

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