CVS 4th-Quarter Profit Rises 32%

CVS Corp., the second-largest U.S. drugstore chain, said fourth-quarter profit increased 32% as lower costs and an early flu season helped spur sales.

Net income rose to $263.4 million, or 64 cents a share, from $200.1 million, or 49 cents, a year earlier, the Woonsocket, R.I.-based firm said. Sales climbed 17% to $7.45 billion, the biggest increase in four years, partly because the quarter was a week longer.

The firm plans to enter the Los Angeles and Orange County markets in the third quarter.

Shares of CVS rose $2.10 to $38.23 on the NYSE.