CVS stands for Consumer Value Stores. The company was originally founded in 1963 in Lowell, Massachusetts, by Stanley and Sidney Goldstein and Ralph Hoagland as a chain of discount health and beauty stores under this name
. Over time, the acronym CVS became the primary brand name, and the company evolved into a major healthcare and pharmacy chain. Former CEO Tom Ryan also interpreted CVS as standing for Customer, Value, and Service , reflecting the company's focus on convenience and customer care, but the original and official meaning remains Consumer Value Stores
. In summary:
- Original meaning: Consumer Value Stores
- Founded: 1963 in Lowell, Massachusetts
- Later interpretation by CEO: Customer, Value, and Service
This evolution mirrors the company's growth from a discount retailer to a leading healthcare provider and pharmacy chain in the U.S.
