Pharmacy

CVS Corporate Office

CVS was founded in Lowell, Massachusetts, by the Goldstein brothers in 1963. By 1964, there were 17 CVS stores selling primarily health and beauty items.

In 1967, CVS opened its first stores with pharmacy departments in Rhode Island. In 1969, CVS was sold to the Melville Corporation.

By 1970, there were 100 CVS stores in the New England and Northeastern US. In 1972, the chain acquired Clinton Drug and Discount, which nearly doubled the size of the chain.

In 1988, the 750th location was opened. In 1990, the chain acquired the 500 store chain Peoples Drug. The stores were converted to CVS branding in 1994.

In 2004, CVS acquired Eckerd Drug, a 1200+ store chain.

The acronym CVS was said to originally stand for Consumer Value Stores. Former CEO Thomas Ryan says it stands for Convenience, Value, and Service.

CVS has filed lawsuits in 2019 trying to prevent former employees and executives from working for a subsidiary of Amazon, PillPack. CVS and other pharmacies appear to have concerns that Amazon will, in the near future, deal directly with pharmaceutical companies and health insurers, cutting prescription drug prices dramatically.

In April 2019, the company instated a policy where they would only offer a maximum of 3 test strips for diabetics, regardless of doctor’s orders, the number of strips in a prescription, the amount covered by insurance, or patient circumstances.

In July 2018, CVS stated they planned to roll out a program called RX Savings Finder, designed to show customers that CVS has the lowest prices.

CVS announced that they would close a record 900 locations across the US starting in January 2022.

CVS currently operates over 9,800 pharmacies in the US. The CVS corporate office is located in Woonsocket, Rhode Island.

CVS Caremark

CVS was founded in Lowell, Massachusetts, by the Goldstein brothers in 1963. By 1964, there were 17 CVS stores selling primarily health and beauty items.

In 1967, CVS opened its first stores with pharmacy departments in Rhode Island. In 1969, CVS was sold to the Melville Corporation.

History

By 1970, there were 100 CVS stores in the New England and Northeastern US. In 1972, the chain acquired Clinton Drug and Discount, which nearly doubled the size of the chain.

In 1988, the 750th location was opened. In 1990, the chain acquired the 500 store chain Peoples Drug. The stores were converted to CVS branding in 1994.

In 2004, CVS acquired Eckerd Drug, a 1200+ store chain.

The acronym CVS was said to originally stand for Consumer Value Stores. Former CEO Thomas Ryan says it stands for Convenience, Value, and Service.

In July 2018, CVS stated they planned to roll out a program called RX Savings Finder, designed to show customers that CVS has the lowest prices.

CVS announced that they would close a record 900 locations across the US starting in January 2022.

CVS currently operates over 9,800 pharmacies in the US. The CVS corporate office is located in Woonsocket, Rhode Island.

Walgreens was founded in 1901 by Chicagoan Charles R. Walgreen, Sr. By 1913, the business had grown to 4 Chicago locations. By 1919, there were 20 stores. The chain grew rapidly in the 1920s and there were 397 stores in 87 cities by 1930. This rapid growth has been, in part, attributed to Walgreens selling bootleg liquor during Prohibition. In 1939, Charles R. Walgreen, Sr. died and his son, Charles Jr. took over the company. Jr. retired in the early 1950s and his son, Cork, took over the company. In 1986, the company acquired MediMart.

In recent years, the company has gone through CEOs in rapid succession with 4 different CEOs since 2006:

In 2006, David Bernauer steps down as CEO and is replaced by Jeff Rein
In 2008, Rein quits abruptly and is replaced by Alan McNally
In early 2009, Gregory Wasson is named CEO
In 2014, facing pressure from shareholders after the merger, Wasson retires and is replaced by Stefano Pessina

The chain currently operates over 8300 locations in all 50 states and Puerto Rico. The Walgreens Corporate Office is located just outside Chicago in Deerfield, Illinois. In 2014, the company purchased Alliance Boots and formed a new company “Walgreens Boots Alliance, Inc.” Walgreens has since become a subsidiary of the company. The newly formed company is publicly traded on the NASDAQ under the ticker symbol: WBA.

In 2012, the DEA accused Walgreens of failing to maintain proper control over prescription pain medication, especially Oxycodone. The company was fined $80 million in 2013.

In early 2018, Walgreens announced that they would be closing more than 600 Walgreens and Rite-aid locations over the course of the year.

It’s been rumored that Walgreens was considering purchasing all or part of AmerisourceBerggen, makers of Oxycontin, but with a lawsuit looming, that plan might have been delayed.

Walgreens also denies that it is interested in purchasing Target stores, but this rumor continues to circulate as of May 2019.

In March 2023, Walgreens announced that it would no longer offer the abortion pill mifepristone in about 20 republican led states. California then announced that it would cancel a $54 million contract with Walgreens.

In October 2023, many Walgreens pharmacy employees walked off the job claiming that they were being asked to do too much with too few employees and/or resources.

Walgreens maintains a corporate office in Deerfield, Illinois.

Walgreens

History

In recent years, the company has gone through CEOs in rapid succession with 4 different CEOs since 2006:

In 2006, David Bernauer steps down as CEO and is replaced by Jeff Rein
In 2008, Rein quits abruptly and is replaced by Alan McNally
In early 2009, Gregory Wasson is named CEO
In 2014, facing pressure from shareholders after the merger, Wasson retires and is replaced by Stefano Pessina

In 2012, the DEA accused Walgreens of failing to maintain proper control over prescription pain medication, especially Oxycodone. The company was fined $80 million in 2013.

In early 2018, Walgreens announced that they would be closing more than 600 Walgreens and Rite-aid locations over the course of the year.

It’s been rumored that Walgreens was considering purchasing all or part of AmerisourceBerggen, makers of Oxycontin, but with a lawsuit looming, that plan might have been delayed.

Walgreens also denies that it is interested in purchasing Target stores, but this rumor continues to circulate as of May 2019.

In October 2023, many Walgreens pharmacy employees walked off the job claiming that they were being asked to do too much with too few employees and/or resources.

Walgreens maintains a corporate office in Deerfield, Illinois.

Kroger Corporate Office

Kroger was founded in Cincinnati, Ohio in 1883 by Bernard Kroger who invested his life savings of $372 to open a grocery store in the Mount Airy neighborhood of Cincinnati. Kroger was the son of a grocer and his motto was simple “Don’t sell anything you wouldn’t buy for yourself.”

Soon, Kroger was experimenting with different products, such as baked goods, so customers wouldn’t have to go to the baker. He was one of the original starters for One Stop Shopping.

Ahead of his time, Kroger was the first merchant to offer self-service. In the past, customers handed a list or asked a merchant for items behind the counter, Kroger allowed customers to browse through aisles themselves.

In the 1930s, Kroger was the first grocery to monitor product quality and first to have a store surrounded on all sides by a parking lot.

In 1955, Kroger acquired Henke & Pillot.

In the 1970s, Kroger was the first chain to introduce electronic checkout scanners. In 1972, the company constructed what was a the time the largest, most modern dairy facility in the US.

In 1983, Kroger acquired the Dillon Companies, a Kansas grocery chain. David Dillion is the current CEO of Kroger.

Many other acquisitions followed in recent years including Pay Less Food Markets, Hilander Foods and Scott’s Food & Pharmacy.

In 1997, the company merged with Fred Meyer.

In April of 2016, the company announced that they had taken a significant share in the Lucky supermarket chain.

In early 2017, the company announced that it needed to hire at least 10,000 full-time employees in the coming year. That same year, the company acquired Murray’s Cheese and stopped offering senior citizen discount days.

Kroger opened their first convenience store in Blacklick, Ohio, called Fresh Eats MKT. Each location will offer a Starbucks, as well as a Kroger Pharmacy.

Kroger is publicly traded on the NYSE under the ticker symbol: KR. In 2016, the company had annual revenue of $115.3 billion.

The company has been banning the use of Visa cards for payments due to high fees, with the most recent announcement in March 2019 that they would no longer accept Visa at their Smith’s Foods locations starting April 3rd, 2019.

In October 2022, the company announced that it would buy top competitor Albertsons Companies in a massive deal for more than $26 billion. If approved this would make Kroger, by far, the largest supermarket chain in the US.

Today, the company operates over 3500 stores. The Kroger corporate office is still located in Cincinnati, Ohio.

Kroger

Soon, Kroger was experimenting with different products, such as baked goods, so customers wouldn’t have to go to the baker. He was one of the original starters for One Stop Shopping.

History

In the 1930s, Kroger was the first grocery to monitor product quality and first to have a store surrounded on all sides by a parking lot.

In 1955, Kroger acquired Henke & Pillot.

In the 1970s, Kroger was the first chain to introduce electronic checkout scanners. In 1972, the company constructed what was a the time the largest, most modern dairy facility in the US.

In 1983, Kroger acquired the Dillon Companies, a Kansas grocery chain. David Dillion is the current CEO of Kroger.

Many other acquisitions followed in recent years including Pay Less Food Markets, Hilander Foods and Scott’s Food & Pharmacy.

In 1997, the company merged with Fred Meyer.

In April of 2016, the company announced that they had taken a significant share in the Lucky supermarket chain.

Kroger opened their first convenience store in Blacklick, Ohio, called Fresh Eats MKT. Each location will offer a Starbucks, as well as a Kroger Pharmacy.

Kroger is publicly traded on the NYSE under the ticker symbol: KR. In 2016, the company had annual revenue of $115.3 billion.

Today, the company operates over 3500 stores. The Kroger corporate office is still located in Cincinnati, Ohio.

Rite Aid Corporate Office

Rite Aid started in 1962 in Scranton, Pennsylvania by Alexander Grass. The first store was called Thrif D Discount Center.

By 1965, the chain had expanded into 5 states, mostly through acquisitions. By 1972, the chain had over 270 stores in 10 states and in 1981 it became the 3rd largest drugstore chain in the US.

Acquisitions in the 80s and 90s included Gray Drugs in 1987, Read’s Drug Stores in the Baltimore area and 114 stores from Lane Drug of Ohio. Hooks Drug Stores were acquired from Revco in 1994, Perry Drug Stores of Michigan were purchased in 1995 and Thrifty Payless in 1996.

Rite Aid currently has over 4700 locations and is still the 3rd largest drug store behind CVS and Walgreens.

In March 2019, the company cut more than 400 corporate and administrative jobs, trying to break even, even though the company sold 2,000 locations and distribution centers to Walgreens.

Both Walgreens and Rite Aid pulled Johnson’s baby powder off their shelves in October 2019 following a recall due to contamination with asbestos.

The former VP of advertising for Rite Aid was sentenced to 2 years in federal prison in October 2019 for conducting a $5 million kickback scheme.

In October 2023, Rite Aid was forced to file for bankruptcy due to a flurry of lawsuits and rising debt.

The Rite Aid corporate office is located in Camp Hill, Pennsylvania.

Rite Aid

Rite Aid started in 1962 in Scranton, Pennsylvania by Alexander Grass. The first store was called Thrif D Discount Center.

By 1965, the chain had expanded into 5 states, mostly through acquisitions. By 1972, the chain had over 270 stores in 10 states and in 1981 it became the 3rd largest drugstore chain in the US.

History

Rite Aid currently has over 4700 locations and is still the 3rd largest drug store behind CVS and Walgreens.

In March 2019, the company cut more than 400 corporate and administrative jobs, trying to break even, even though the company sold 2,000 locations and distribution centers to Walgreens.

Both Walgreens and Rite Aid pulled Johnson’s baby powder off their shelves in October 2019 following a recall due to contamination with asbestos.

The former VP of advertising for Rite Aid was sentenced to 2 years in federal prison in October 2019 for conducting a $5 million kickback scheme.

In October 2023, Rite Aid was forced to file for bankruptcy due to a flurry of lawsuits and rising debt.

The Rite Aid corporate office is located in Camp Hill, Pennsylvania.