Server: Netscape-Communications/1.1 Date: Friday, 19-Dec-97 20:33:03 GMT Last-modified: Tuesday, 22-Jul-97 21:12:04 GMT Content-length: 8184 Content-type: text/html Company History
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[Company History]

The first CVS store opened in Lowell, Massachusetts in 1963, under the name "Consumer Value Store." We have become more popularly known as CVS, but our focus on providing value to our customers has remained our hallmark.

Customers responded as CVS grew and opened more stores. From the beginning, the CVS team listened to customers and operated stores to meet their needs. In 1968, CVS added pharmacy departments to many of our stores, a decision that greatly enhanced the stores’ offerings and fostered the company’s growth.

The merger of CVS and Peoples Drug in 1990 was another leap forward. It moved CVS into major new markets, added many talented people to the company, and brought a new perspective to operating the business.

On May 29, 1997, CVS completed its acquisition of Revco D.S., Inc., making CVS the largest drugstore chain in the United States based on store count. Operating nearly 4,000 stores in 24 states and the District of Columbia, CVS is the leader in the Northeast, Mid-Atlantic, Midwest and Southeast. CVS’ annual revenues will approach $13 billion in 1997.

The CVS team consists of more than 80,000 dedicated people working in our stores, distribution centers, and headquarters in Woonsocket, Rhode Island.

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Copyright © 1997 CVS Corporation. All rights reserved.
Revised: July 21, 1997.