The first CVS store, selling health and beauty products, is founded in Lowell, Massachusetts by brothers Stanley and Sidney Goldstein and partner Ralph Hoagland. CVS stands for Consumer Value Stores.
The chain grows to 17 stores. The original CVS logo is developed (CVS banner inside a shield, with the words “Consumer Value Stores” below) and displayed on store exteriors for the first time.
CVS begins operation of its first stores with pharmacy departments, opening locations in Warwick and Cumberland, Rhode Island.
CVS operates 100 stores in the Northeast.
CVS nearly doubles in size with its acquisition of 84 Clinton Drug and Discount Stores.