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By 1997, the drug store chain was the nation's eighth largest, having 207 locations throughout southeastern Michigan. In 1997, revenues totaled $962.8 million (~$1.7 billion in 2023). CVS Corporation announced on February 9, 1998, that it would be purchasing Arbor Drugs in a transaction estimated at $1.48 billion (~$2.58 billion in 2023), and ...
1998: CVS acquired 207 stores from Arbor Drugs, [12] giving CVS its first stores in Michigan. 1999: CVS acquired Soma.com, the first online pharmacy, and renamed it CVS.com to become the first fully integrated online and brick-and-mortar pharmacy offering to consumers. [citation needed]
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 ]
In 2021, USA Today reported that CVS announced a plan to close nearly 900 stores from 2022 to 2024, with the goal of about 300 per year. At the time, T.J, Crawford, a CVS spokesperson, told the ...
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The shots may become available at CVS stores in more Michigan communities as ... Mar. 18—CVS pharmacies in Detroit, Fraser, Holt, Jackson and Lansing will begin administering COVID-19 ...
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