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CVS Pharmacy used to be a subsidiary of Melville Corporation, where its full name was initially Consumer Value Stores. Melville changed its name to CVS Corporation in 1996 [12] [13] after Melville sold off many of its nonpharmacy stores. [14] The last of its nondrugstore operations were sold in 1997. [12]
Melville Corporation was a large retail holding company incorporated by Ward Melville in 1922 from Melville Shoe Company. Formerly based in Rye, New York, it became CVS Corporation in 1996 under a massive reorganization plan. The company traded on the New York Stock Exchange (NYSE) under the ticker MES, before changing its ticker to CVS.
CVS was sold to Melville Corporation in 1969. [7] 1970s. By 1970, ... CVS Pharmacy is one of the largest retail pharmacy chains in the United States, ...
Pharmacies within CVS stores were introduced later in 1967, and two years later the company was sold to Melville Corporation. By 1988, the chain grew to 750 stores with sales reaching roughly $1.2 ...
The company was acquired by CVS Health in September 2014 and is operated as a separate brand and business of CVS, headquartered in Miami, Florida. The company mainly operates in Miami-Dade and Broward Counties and currently has 28 stores. Navarro Discount Pharmacies has a 17% market share in South Florida, ahead of Walgreens and CVS/pharmacy. [1]
The company's California drugstore operations were enhanced through the early 1992 $60 million purchase of 85 CVS Stores (63 CVS Pharmacy drugstores and the rights to operate 22 CVS health and beauty aid stores) from the Melville Corporation. These stores converted to the Sav-on Drugs and Sav-on Express banners.
Longs Drugs is an American chain owned by parent company CVS Health with approximately 70 drugstores throughout the state of Hawaii and formerly in the Continental US.. Before being acquired by parent company CVS Health in 2008, it was a chain of over 500 stores, located primarily on the West Coast of the United States.
In 1990, Melville Corporation, owner of CVS, purchased Peoples for $330 million (~$680 million in 2023). [35] CVS kept the Peoples Drug name in place, remodeled most stores to the CVS format, and improved the stores' sales. [36] The Peoples name was considered to be too strong a name to change it to CVS pharmacy immediately. The name did ...