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In July 2004, JCPenney sold the Eckerd chain to CVS Corporation and Jean Coutu Group for a total of $4.5 billion (~$6.96 billion in 2023). [10] CVS acquired 1,271 Eckerd stores, and support facilities, in Florida, Texas, and other Southern states, as well as Eckerd's pharmacy benefits management and mail order businesses, for $2.15 billion. [10]
In 2004 CVS purchased 1,268 Eckerd drug stores and Eckerd Health Services, a PBM/mail-order pharmacy business, from J. C. Penney. [25] Most of the former Eckerd stores, which were converted to CVS stores by June, are located in Florida, Texas, and other southern states. Because JCPenney credit cards were accepted at Eckerd locations, CVS ...
Rite-Aid trails Walgreen's and CVS in the race to be the country's largest drugstore, however. ... founded by J. Milton Eckerd with $600 in savings and a small loan from a former employer. In 1912 ...
However, Brooks faced many difficulties between 2004 and 2006, as its parent company struggled unsuccessfully to integrate 1,500 Eckerd stores acquired from J.C. Penney with the existing Brooks network, resulting in a steady loss of market share and lagging same-store sales as CVS and Walgreens continued to expand and solidify their store base ...
These stores became the Kerr Drug chain, using the name of a former Carolinas chain acquired by JCPenney in 1995. [4] After acquiring Eckerd, in 1997 JCPenney merged Thrift Drug and all other pharmacy chains into the larger Eckerd chain (later purchased by CVS Pharmacy and Rite Aid [citation needed]).
Following the acquisition, the new owners planned to convert all Genovese locations to the Eckerd name within a year. However, the chain ultimately remained. By 2003, all Genovese stores were remodeled and rebranded as Eckerd. [13] Three years later, Eckerd was in turn purchased by Rite Aid and all locations were rebranded. [14]
PROVIDENCE – A former senior vice president at CVS Health who helped oversee the pharmacy chain’s pandemic response is suing his ex-employer, accusing the company of illegally reneging on his ...
The companies entered into a consent order with the agency, under which it was agreed that the Virginia-area stores would be divested to Eckerd Corporation and the Binghamton stores would be divested to Medicine Shoppe, Inc. [13] As part of executing the divestiture to Eckerd, the FTC alleged that CVS removed important computers and pharmacy ...