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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.
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 ]
CVS Pharmacy fills more than one of every five prescriptions in the United States, and 85% of U.S. population lives within 10 miles of a CVS Pharmacy. [44] The ExtraCare loyalty program boasts over 70 million cardholders, making it the largest retail loyalty program in the country. [45]
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By the 1980s, Melville was still the largest footwear retailer in the US. The company had diversified to add such chains as Chess King, Foxmoor and CVS Pharmacy. It began to phase out six of its seven footwear factories in 1983, and in 1985 it closed 72 Thom McAn outlets. In 1988, it purchased the athletic shoe chain FootAction. [1]
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Thrifty PayLess Holdings, Inc. was a pharmacy holding company that owned the Thrifty Drugs and PayLess Drug Stores chains in the western United States. The combined company was formed in April 1994 when Los Angeles–based TCH Corporation, the parent company of Thrifty Corporation and Thrifty Drug Stores, Inc., acquired the Kmart subsidiary PayLess Drug Stores Northwest, Inc. [1] At the time ...
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