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CVS pharmacy Inc.
Formerly
Consumer Value Stores (1963–69)
Company type
Subsidiary
Industry
Retail
Founded
May 8, 1963; 61 years ago (1963-05-08) Lowell, Massachusetts, U.S.
Founders
Stanley P. Goldstein
Sidney Goldstein
Ralph P. Hoagland III
Headquarters
1 CVS Drive,
Woonsocket, Rhode Island
,
U.S.
Number of locations
9,967[1] (2018)
Area served
United States Puerto Rico
Key people
David Dorman (chairman)
Karen S. Lynch (CEO)
Revenue
US$169,236 million (2022)
US$153,022 million (2021)
US$141,938 million (2020)
[2]
Operating income
US$7,356 million (2022)
US$6,859 million (2021)
US$5,688 million (2020)
[2]
Net income
US$6.0 billion[3] (2017)
Number of employees
203,000[4] (2017)
Parent
Melville Corporation (1963–1996)
CVS Health (1996–present)
Website
cvs.com
Footnotes / references [5]
CVS Pharmacy, Inc. is an American retail corporation. A subsidiary of CVS Health, it is headquartered in Woonsocket, Rhode Island.[6] Originally named the Consumer Value Stores, it was founded in Lowell, Massachusetts in 1963.[7]
The chain was owned by its original holding company Melville Corporation from its inception until its current parent company (CVS Health) was spun off into its own company in 1996. CVS Pharmacy is currently the largest pharmacy chain in the United States by number of locations (over 9,600 as of 2016) and total prescription revenue.[8][5][9] Its parent company ranks as the fifth largest U.S. corporation by FY2020 revenues in the Fortune 500.[4] The parent company of CVS Pharmacy's leading competitor (Walgreens) ranked 19th for the same time period.[10] CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods through their CVS Pharmacy and Longs Drugs retail stores and online through CVS.com. It also provides healthcare services through its more than 1,100 MinuteClinic medical clinics[11] as well as their Diabetes Care Centers. Most of these clinics are located within or outside CVS stores.
CVS on Pratt Street in Baltimore, Maryland. This store opened in 2014.
^"Five-Year Financial Summary". CVS Health. March 21, 2019. Archived from the original on April 23, 2019. Retrieved October 11, 2019.
^ ab"CVS Health 2022 Annual Report" (PDF). CVS Health. Retrieved August 10, 2023.
^"CVS Financials : Q4-2017" (PDF). CVS Health. February 8, 2018. p. 13. Archived from the original (PDF) on August 13, 2022. Retrieved October 29, 2018.
^ ab"CVS Health (CVS) Stock Price, Financials and News | Fortune 500". Fortune. Archived from the original on June 8, 2017. Retrieved July 16, 2021.
^ ab"Company History". CVS Health. Archived from the original on April 23, 2019. Retrieved June 6, 2019.
^Nesi, Ted (October 28, 2010). "CVS to lay off 150 people in Woonsocket, 300 nationwide". WPRI-TV. Archived from the original on November 1, 2010. Retrieved September 5, 2013.
^"Lowell - Did you know?". City of Lowell. Archived from the original on May 12, 2012. Retrieved September 5, 2013.
^"2013 Top 100 Retailers". stores.org. Archived from the original on September 22, 2013. Retrieved September 17, 2013.
^Fein, Adam J. (April 23, 2013). "The Top 50 Retail Pharmacies, according to Drug Store News". Drug Channels (blog). Retrieved September 17, 2013.
^"Walgreens Boots Alliance (WBA) Stock Price, Financials and News | Fortune 500". Fortune. Archived from the original on June 7, 2017. Retrieved July 16, 2021.
^Dudley, Renee (February 17, 2013). "Wal-Mart medical clinics trail CVS". The News Journal. Archived from the original on January 7, 2016. Retrieved June 15, 2015.
CVSPharmacy, Inc. is an American retail corporation. A subsidiary of CVS Health, it is headquartered in Woonsocket, Rhode Island. Originally named the...
CVS Health Corporation (previously CVS Corporation and CVS Caremark Corporation) is an American healthcare company that owns CVSPharmacy, a retail pharmacy...
of retail pharmacies (e.g., CVSPharmacy), and as part of insurance companies (e.g., UnitedHealth Group). As of 2016, PBMs managed pharmacy benefits for...
CVS Caremark (formerly Caremark Rx) (stylized as CVScaremark, previously CVS/caremark) is the pharmacy benefit management subsidiary of CVS Health, headquartered...
Shoppe Pharmacy Navarro Discount Pharmacies (subsidiary of CVS since 2015) Rite Aid Thrifty White Valu-Rite Walgreens Arbor Drugs (acquired by CVS in 1998)...
Look up CVS in Wiktionary, the free dictionary. CVS may refer to: CVS Health, a US pharmacy chain CVSPharmacy, a subsidiary of CVS Health (originally...
announced that they were being acquired by CVS Health, the operator of the national CVS/pharmacy chain of drugstores. CVS bought the 521 Longs locations to expand...
northward) for $2.375 billion. The locations acquired by CVS were converted to CVSPharmacies in late 2004 and 2005, eliminating the Eckerd name from markets...
has 28 stores. Navarro Discount Pharmacies has a 17% market share in South Florida, ahead of Walgreens and CVS/pharmacy. The company has more than 2,000...
(November 17, 2020). "Amazon launches Amazon Pharmacy". TechCrunch. "How Bad Is Amazon Pharmacy for CVS and Walgreens?". Barron's. November 17, 2020....
New York Stock Exchange under the ticker symbol RXR. Revco was sold to CVSPharmacy for $2.8 billion (~$4.94 billion in 2023) in February 1997. When it was...
Disparate impact in the law of the United States refers to practices in employment, housing, and other areas that adversely affect one group of people...
1997 JCPenney merged Thrift Drug and all other pharmacy chains into the larger Eckerd chain (now CVSPharmacy and Rite Aid[citation needed]). One enduring...
Pittsburgh School of Pharmacy in 1978. Merlo began his career at Peoples Drug, and joined CVSPharmacy in 1990, when Peoples was acquired by CVS. He served as...
(1997) Gumout Long Life Formula 200 (1998) Busch 200 (1999–2000, 2002) CVSPharmacy 200 Presented by Bayer (2001) New England 200 (2003, 2005–2006, 2010–2011)...
Beginning in 2020, the pharmacy at Schnucks was taken over by CVSPharmacy, making them the second in-store pharmacy to be converted to the CVS brand after Target...
for around $1.9 billion. The Target pharmacies were rebranded as CVS Health pharmacies, which totaled 1,672 pharmacies in February 2016. The Target clinics...
Realty LLC in June 2013 and underwent renovation during the 2010s. A CVSPharmacy opened on the first two floors of the building in 2019. Before World...
American company that operates the second-largest pharmacy store chain in the United States, behind CVS Health. It specializes in filling prescriptions...
Villegas 2007 Stewart Cink and J. J. Henry CVS/pharmacy Charity Classic 2006 Tim Clark and Nick Price CVS Charity Classic 2005 Chris DiMarco and Fred...
Albertsons Express fuel centers. CVS would acquire 702 stand-alone Osco and Sav-on Drug stores and converted them to CVSPharmacy stores. They also closed about...
locations acquired by CVSPharmacy; Osco still exists as the pharmacy within Jewel Pay 'n Save Peoples Drug – acquired by CVSPharmacy Perry Drug Stores –...
company had diversified to add such chains as Chess King, Foxmoor and CVSPharmacy. It began to phase out six of its seven footwear factories in 1983, and...
in 2010 a single CVSpharmacy in Sanford ordered 1.8 million oxycodone pills, an average of 137,994 pills a month. Other pharmacy customers in Florida...
Global Information
US$6.0 billion[3] (2017)