Name
CVS Pharmacy used to be a subsidiary of Melville Corporation, where its full name was initially Consumer Value Stores. Melville later changed its name to CVS Corporation in 1996 after Melville sold off all of its non-pharmacy stores.
Former CEO Tom Ryan has said he now considers "CVS" to stand for "Customer, Value, and Service".
During the company's days as a regional chain in the Northeastern United States, many CVS stores did not include pharmacies as in some jurisdictions pharmacies are required to label themselves as such.
Today the company seldom builds new stores without pharmacies and is gradually phasing out these shops that remain outside of New England. Any new non-pharmacy store is usually built in a more urban setting where another CVS with a pharmacy exists within walking distance such as downtown Boston or Providence. These stores usually lack a pharmacy and a photo center but carry most of the general merchandise items that a normal CVS Pharmacy carries such as health and beauty items, sundries and food items.
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