How Was "CVS Pharmacy" Named?
CVS Corporation used to be known as Melville Corporation; CVS changed its name from Melville in 1996.
The name once stood for Consumer Value Stores; though Tom Ryan, CVS's CEO has said he now considers it to stand for "Customer, Value, and Service".
The "pharmacy" part of the CVS store name comes from the chain's days as a regional Northeastern U.S. chain. CVS operated many convenience store-type stores without pharmacies, and the "/pharmacy" would be used to indicate the stores that had pharmacies. CVS now no longer builds stores without pharmacies, and many of the "CVS" stores (stores without pharmacies) have been phased out, though a few remain in New England, New York, and shopping malls.
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