CVS Pharmacy

CVS pharmacy Inc.
FormerlyConsumer Value Stores (1963–69)
Company typeSubsidiary
IndustryRetail
FoundedMay 8, 1963; 61 years ago (1963-05-08)
Lowell, Massachusetts, U.S.
Founders
Headquarters1 CVS Drive,
Woonsocket, Rhode Island
,
U.S.
Number of locations
9,967[1] (2018)
Area served
United States (incl. Puerto Rico)
Key people
Revenue
  • Increase US$169,236 million (2022)
  • US$153,022 million (2021)
  • US$141,938 million (2020)
[2]
  • Increase US$7,356 million (2022)
  • US$6,859 million (2021)
  • US$5,688 million (2020)
[2]
Increase US$6.0 billion[3] (2017)
Number of employees
203,000[4] (2017)
Parent
Websitecvs.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 Pharmacy in Solomons, Maryland
  1. ^ "Five-Year Financial Summary". CVS Health. March 21, 2019. Archived from the original on April 23, 2019. Retrieved October 11, 2019.
  2. ^ a b "CVS Health 2022 Annual Report" (PDF). CVS Health. Retrieved August 10, 2023.
  3. ^ "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.
  4. ^ a b "CVS Health (CVS) Stock Price, Financials and News | Fortune 500". Fortune. Archived from the original on June 8, 2017. Retrieved July 16, 2021.
  5. ^ a b "Company History". CVS Health. Archived from the original on April 23, 2019. Retrieved June 6, 2019.
  6. ^ 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.
  7. ^ "Lowell - Did you know?". City of Lowell. Archived from the original on May 12, 2012. Retrieved September 5, 2013.
  8. ^ "2013 Top 100 Retailers". stores.org. Archived from the original on September 22, 2013. Retrieved September 17, 2013.
  9. ^ Fein, Adam J. (April 23, 2013). "The Top 50 Retail Pharmacies, according to Drug Store News". Drug Channels (blog). Retrieved September 17, 2013.
  10. ^ "Walgreens Boots Alliance (WBA) Stock Price, Financials and News | Fortune 500". Fortune. Archived from the original on June 7, 2017. Retrieved July 16, 2021.
  11. ^ 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.