CVS, known today as CVS/Pharmacy, is a large chain of convenience stores and pharmacies in the US. "CVS" is short for
Consumer
Value
Store.
They sell a wide variety of merchandise, including greeting cards, medications, magazines, toys, food, beauty care, and appliances. That's all in addition to the 1-hour Photo Lab and Pharmacy. Many, but not all, store locations are open for 24 hours a day, including the pharmacy.
As of today, they have over 4,100 stores, 9 distribution centers, regional offices, PharmaCare headquarters, and their Store Support Center in Woonsocket, Rhode Island. They are in at least 34 states and most major cities. They are also the leading pharmacy in plenty of locations, beating out such competitors like Genovese and Eckard.
They also have an online pharmacy at CVS.com, for US customers. It's integrated into CVS' network, meaning customers can order medications online and pick them up at stores.
They have an ExtraCare program, where if you show your free CVS card, you earn 2% back on stuff (They give you cashback coupons, but you have to spend over that amount to redeem them). Also, they have their own CVS brand merchandise (medications, foods. Its cheaper than brand, but IMO just as good. Employees get 20% off store merchandise.
History
The first CVS opened in 1963 in Lowell, Massachusetts. They sold health and beauty products. In 1967, they began operating the first stores with Pharmacy departments. By 1970, they had opened 100 stores in New England and the Northeastern US.
Sales boomed, and by 1974, they reached the milestone of $100million US in sales. By 1980, they became the 15th largest pharmacy chain in the US with 408 stores and $414million in sales. They later hit the $1billion milestone in 1985.
In 1990, they acquired "People's Drug" which further expanded their markets. In 1994 they launched PharmaCare, "a pharmacy benefit management company providing a wide range of pharmacy management benefit services to employers and insurers."
In 1997, CVS bought the Revco pharmacy chain, the largest acquisition in the history of US pharmacy. That spread CVS's all over the US, which made it national. They also purchase existing pharmacies and turn them into a CVS. Their CEO came from a pharmacist at Arbor Drugs, Inc of Michgan.
By 2001, they had sales of over $24 billion and passed the 4,000 store mark. They plan on opening 440 new stores annually. According to their brochures, they're focusing on expanding in Central and South Florida (all those sick Senior Citizens!), Las Vegas, Phoenix, Dallas, and Houston.
By 2007 they merged with Caremark, a major insurance processing company, and acquired even more stores.