CVS Pharmacy: 40 years of American Drugstore history

• 2004: CVS completes its acquisition of 1,260 Eckerd Stores and Eckerd’s PBM/Mail-order pharmacy business, increasing its store count to more than 5,000 locations and becoming America’s leading pharmacy retailer.
• 2004: CVS announces entry into California and posts record financial results for 2003.
• 2003: CVS announces entry into Minneapolis / St. Paul markets.
• 2002: CVS continues its growth, opening new stores in high-population growth markets such as Dallas, Houston, Phoenix and Las Vegas.
• 2001: CVS records sales that exceed $22 billion and operates over 4,000 stores in 32 states and the District of Columbia. CVS is a leading pharmacy retailer in many markets in the Northeast, Mid-Atlantic, Midwest and Southeast regions. The company also begins its expansion into diverse, high-growth markets, including Central and South Florida.
• 1999: CVS launches CVS.com, the first fully integrated online pharmacy in the U.S.
• 1998: CVS acquires Arbor Drugs, Inc., of Michigan (207 stores). Tom Ryan is named President and CEO of CVS. Ryan began working for CVS in 1978 as a pharmacist and is only the third CEO in the history of the company.
• 1997: CVS completes its acquisition of the 2,552-store Revco pharmacy chain the largest and most successful acquisition in the history of the U.S. retail pharmacy industry. The acquisition of Revco gives CVS key store locations in the Midwest, Southeast and other parts of the country.
• 1994: CVS launches PharmaCare, a pharmacy benefit management company providing a wide range of pharmacy management benefit services to employers and insurers.
• 1990: CVS acquires Peoples Drug (500 stores), which put CVS into new mid-Atlantic markets including Washington, D.C., Pennsylvania, Maryland and Virginia.
• 1985: CVS hits the $1 billion in sales milestone.
• 1980: CVS becomes the 15th largest pharmacy chain in the U.S. with 408 stores and $414 million in sales.
• 1974: CVS hits the $100 million in sales milestone.
• 1970: CVS operates 100 stores in New England and the Northeast.
• 1967: CVS begins operation of its first stores with pharmacy departments.
• 1963: The first CVS store, selling health and beauty products, opens in Lowell, Massachusetts. CVS stands for Consumer Value Stores

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