NEW: CVS Rises, Textron Falls on Fortune 500 List
Monday, May 07, 2012
CVS Caremark Corporation and Textron are again members of the Fortune 500, according to the annual list which hit newstands today.
CVS, in its thirteenth year on the list, jumped to 18th place, up three spots from its no. 21 position in 2010. With a $107.7 billion total revenue, CVS was up 11.8% this year. Even though this year’s $29.1 billion merger of Express Scripts and Medco ended CVS’s reign as the largest pharmacy benefits operator, Rhode Island’s top earning company still outsells every other food and drug store in America.
Textron fell three spots, landing at no. 236 on the list. Regardless, the company’s revenue grew 7.1% over the last year to $11.2 billion. CEO Scott C. Donnelly is however faced with some disappointing numbers, namely a negative 21.5% return to investors. In the aerospace and defense industry, Textron lands in the 9th place spot, losing to industry behemoths such as Boeing and Lockheed Martin.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST
Interestingly, if the total revenue of the Fortune 500 were stacked against the GDPs of the world, the group would be the second richest nation with $11.8 trillion.
