CVS Aquires Eckerd's Drugstore Chain

Discussion in 'After Hours Lounge (Off Topic)' started by Rob Lutter, Apr 5, 2004.

  1. Rob Lutter

    Rob Lutter Producer

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    http://www.wofl.com/_ezpost/data/4032.shtml

    CVS becomes the biggest drugstore chain in the United States (over now #2 Walgreens).

    Don't know if this affects any of you, but I've been shopping at Eckerd's for my entire life for all my photo development, prescription, and convenience-store needs. [​IMG]
     
  2. Topher

    Topher Stunt Coordinator

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    It affects me, I work for Rite Aid and we are the number 3 chain (at least we WERE, I am not sure now) and I was really hoping we could get in on buying some of those stores. We really need to start bringing in more profit and a large aquisition could have helped... of course it is also a large gamble, but one I think we needed. This could hurt Rite Aid, seeing that we were already battling with CVS for market share, now they have a foothold in 2 areas where we don't even have stores. Oh well! Guess as long as I don't lose MY job, I am cool! [​IMG]
     
  3. StephenA

    StephenA Screenwriter

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    I haven't been in a CVS that dealt with prescriptions in years. The closest one near me is in the mall and they are basically a convenience store with no pharmacy. I don't even know if the next closest CVS near me has a pharmacy, because I haven't stepped foot in that one in at least 10 years, probably more. The main pharmacy near me is Brooks, and there are 2 within 5 minutes walking distance. I have no idea why they are so close together.
     
  4. Scott Merryfield

    Scott Merryfield Executive Producer

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    CVS purchase Arbor Drugs a few years ago. Arbor was a local drug store chain that grew tremendously in the Detroit market in the 80's and 90's -- they were the #1 drug store in this area. I worked for them from '80 - '82 while in college. CVS now controls this market. Rite Aid and Walgreens have never taken hold here.

    The thing I hated most about the purchase was that all the stores changed their layout of merchandise, which had not really changed since I worked there 20 years ago. Now I cannot find anything in the damn stores! [​IMG]
     
  5. BrettB

    BrettB Producer

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    Here in OKC every time Eckerds builds a new store Walgreen builds a store right across the street. Seems like a strange strategy. I just go to the one with the fewest cars in the lot. [​IMG]
     
  6. MikeSerrano

    MikeSerrano Second Unit

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    Until recently, all we had were Walgreens here in the eastern Boulder County area (the Walgreens in Louisville has been there for as long as I can remember and they built a new one in Lafayette a few years ago). However, Eckerds has just build two stores, one in Lafayette (opened about a week ago, across town from Walgreens) and one in Broomfield (will be opening soon). I had never heard of neither Eckerds or CVS before the last year or so.

    *Shrugs*. The only time I ever go into Walgreens is to buy cheap candy for Halloween and cheap decorations for Christmas.

    -Mike
     
  7. Malcolm R

    Malcolm R Executive Producer

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    Also known as the "McBurger King Effect." [​IMG]
     
  8. Prentice Cotham

    Prentice Cotham Supporting Actor

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    Welcome to the wonderful world of the CVS Extracare card!
     
  9. Scott Merryfield

    Scott Merryfield Executive Producer

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    [​IMG] Ah, yes. The service who's slogan should be "you'll pay an outrageous price unless you let us track your spending habits in great detail".
     
  10. Leila Dougan

    Leila Dougan Screenwriter

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    CVS and Eckerds play the same game. Up until a few months ago, Walgreens was pretty much the only game in town. CVS and Eckerds both decided to capitalize on our market, opting to build many stores right across the street from Walgreens.

    Now, most of the CVS and Eckerds stores are still under construction so it'll be interesting how this merger affects them. Like, they haven't put the signs up yet so I wonder if they'll make them all the same.
     
  11. Scott_J

    Scott_J Cinematographer

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    This doesn't come as a surprise to this CVS employee. I heard rumors about this a few months ago. Kind of ironic because in the fall, one of my co-workers left for a job in the photo department at a local Eckerd. Welcome back to the CVS family, Dan. [​IMG]

    As for the ExtraCare card, it's better than most supermarket's club cards. At least CVS gives youn 2% back on what you buy with the card. But I agree that's purpose is simply to track what you buy.

    Steven, mall CVSes do not have pharmacies or one-hour photo services. I know - I work in a mall CVS. AFAIK, all non-CVSes do have those services, so if the 2nd closest one to you isn't in a mall, then it SHOULD have a pharmacy. Just FYI.

    Edit: After reading our press release at CVS.com, it looks like CVS only acqured Eckerds in FL, TX, LA, OK, MO, MS, AZ, KS, and AL. So my former co-worked isn't back in the CVS family after all.
     
  12. ThomasC

    ThomasC Lead Actor

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    Out of the four sides at an intersection in Hamilton, Ohio, there are three pharmacies. I'm not sure which ones they are, but I think it would be safe to say that they were the big ones like Rite Aid, CVS, and Walgreens.
     
  13. Alan Erceg

    Alan Erceg Stunt Coordinator

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    I work for Eckerd at one of their Corporate headquarters here in Pittsburgh.

    This has been in the works for a while now..and there was all kinds of meetings on Monday when this all went down...I as a lowly Senior Level Rep dont know all too much..but should be interesting to see what happens.
     
  14. Aurel Savin

    Aurel Savin Supporting Actor

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    Let's not forget that Commerce Bank owns CVS or is the parent company, one or the other... not sure.

    Here in a suburb of NYC, where I live, there are 4 branches of Commerce Bank opening in a 2 mile radius .. I kid you not. Also it is not uncommon that where there is a Commerce bank ... there is a CVS across the road.
     
  15. MikeSerrano

    MikeSerrano Second Unit

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    Last night on the local news I heard that they are going to close all Eckerds stores in Colorado as of June. That means the store they just built in Lafayette will have done, at most, 2 months of business before shutting down. The Broomfield store under construction will be finished, but will never open.

    What a waste.

    -Mike
     
  16. Topher

    Topher Stunt Coordinator

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    It will probably just open as a CVS.
     
  17. Mark Philp

    Mark Philp Second Unit

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    CVS didn't buy the whole chain. The stores in the northeast (I don't know how far south or west that includes) were sold to a major Canadian chain who's name I can't recall, that operates in the U.S. under the Brooks name. Since we have a major Eckerd distribution center here it's been big news in the local papers and on TV. It's been reported that they will continue to use the Eckerd name. Of course, they need approval from the FTC, especially for the CVS part of the deal.
     
  18. Scott_J

    Scott_J Cinematographer

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    This probably shouldn't be too hard, I don't think, since Eckerd split their stores between the 2. From what I read, the reason why they sold the Northeast stores to Brooks' parent is because of antitrust concerns with CVS in the NE because CVS already has a large presence in the region.
     
  19. Scott_J

    Scott_J Cinematographer

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    I think you're mistaken about that. CVS was for a long time a part of Melville Corporation, one-time owner of retail establishments such as Thom McCann shoes, KB Toys, Marshalls, Wilsons Leather, Bob's Stores, and CVS. In 1995, Melville agreed to a restructuring plan in which they changed their corporate name to CVS and sold off all its brands not associated with their drugstore business.

    http://www.business.uiuc.edu/kpmg-ui...es/cvs/cvs.pdf
    Check out page 3 of the PDF document.

    I know of no corporate links between Commerce Bank and CVS.
     
  20. Scott Merryfield

    Scott Merryfield Executive Producer

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    CVS used a similar strategy when they purchased the Arbor Drug chain in this area. They transitioned the stores gradually to the new brand name, since Arbor was such as recognized brand name in this area, and CVS was almost unknown.
     

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