CVS: Consumer Value Stores
December 17, 2022
Bringing our heart to every moment of your health™.
In 1964, there were just 17 CVS retail stores in the United States, a far cry from today’s 9,633 retail locations. By 1969, there were 40 CVS stores. In that same year, CVS was acquired by the now-defunct Melville Corporation, boosting its growth.
By 1970, CVS operated 100 stores in New England and the Northeast.
In early 1972, being environmentally conscientious, CVS introduced America’s first refillable plastic bottle with its CVS private-label shampoo. It was a great deal for customers, CVS, and the environment! Customers paid 79¢ for a bottle of CVS private-label shampoo and when they returned the empty bottle and cap, could buy another bottle of the same shampoo for 69¢ (a 10¢ saving). So, why isn’t the whole world doing this, you ask?
The chain had more than 400 stores by 1981 and by 1985, sales reached $1 billion.
In 1990 CVS expanded into the mid-Atlantic markets when it acquired the 490-store Peoples Drug chain from Imasco.
In 1997, CVS nearly tripled its 1,400 stores after purchasing the 2,500-store Revco chain. Also in that year, CVS participated in a program in an initiative to reduce the pollution of Maine’s waterways by agreeing to accept drugs for disposal so that people would not discard of them in ways that would reach rivers and other bodies of water.
CVS was definitely a rising star in the pharmacy business. As of December 2009, CVS Caremark had over 7,000 locations.
On September 3, 2014, CVS Caremark changed its name to CVS Health and announced that it would stop selling tobacco products.
In 2015, CVS Health acquired Target Corporation’s pharmacy and retail clinic businesses which included 1,660 pharmacies in 47 states.
With approval from the United States Department of Justice in 2018, CVS acquired Aetna, for $69 billion.
CVS Health’s net worth as of December 06, 2022, is $132.96B.
Gloria Sauvé
Communications
