CVS enters the Atlanta market; Nine new free-standing drugstores open today.WOONSOCKET, R.I.--(BUSINESS WIRE)--October 3, 1996--CVS, the nation's fifth-largest drugstore chain, today entered the Atlanta market with the simultaneous opening of nine CVS/pharmacy stores in the Atlanta metropolitan area The Atlanta metropolitan area, commonly referred to as metro Atlanta in Georgia, is the ninth-largest metropolitan area in the United States and consists of up to 28 counties in Georgia. . CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. eventually plans to expand its Atlanta market operations to include approximately 100 drugstores throughout the metropolitan region. CVS has continued to grow its operations in the Mid-Atlantic and New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. regions and enters the Atlanta market as part of its expansion into the Southeast. CVS also recently announced plans to enter the Greenville, S.C. market in the fall of 1997. "We are excited to be participating in Atlanta's tremendous growth with our first nine stores here," said Thomas M. Ryan, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CVS. "Expansion into new high-potential markets is an integral part of CVS' strategy, and we are looking forward to increasing our presence in the Atlanta metropolitan area. These new CVS stores will provide local residents with convenient shopping and pharmacy services and provide numerous job opportunities for the metropolitan area. CVS is proud to be a part of the renaissance of Atlanta and an integral part of the Atlanta community." CVS offers customers "Convenience, Value and Service." To fulfill its commitment to convenience, the majority of the new CVS locations will offer drive-thru and one-hour photo service, as well as 24-hour service to customers at the Marietta location (S. Marietta Pkwy & 300 Powder Springs Road-120 Loop). CVS, which operates approximately 1,380 stores in 15 states, is the leading drugstore chain in the Northeast and Middle Atlantic regions with the #1 market share position in 21 of the 29 markets it serves and the #2 position in four others. The Company is the nation's fifth largest drug store chain by volume with annual sales of $4.9 billion in 1995. CVS will emerge as a stand-alone chain drug company later this month, as a result of a strategic restructuring program implemented by CVS' parent company, Melville Corporation (NYSE NYSE See: New York Stock Exchange :MES (Manufacturing Execution Software) Software that provides real time access to plant activities that include equipment, labor, orders and inventory. An MES integrates the data with enterprise resource planning (ERP) systems so that management has complete control of ). Following the spinoff, on October 12, 1996, of Melville's footwear business, to be known as Footstar, Inc., Melville plans to change its corporate name to CVS Corporation and its trading symbol Trading symbol See: Ticker symbol to "CVS." CONTACT: CVS Investor: Nancy Christal, 914/722-4704 or Kekst & Co. Media: Jim Fingeroth or Wendi Kopsick, 212/593-2655 |
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