Melville Corporation

From Wikipedia, the free encyclopedia

Melville Corporation, formerly based in Rye, New York, was a large retail holding corporation incorporated in 1922 as the Melville Shoe company by Ward Melville. It changed its name to CVS Corporation in 1996. The company traded on the New York Stock Exchange (NYSE) under the ticker MVL, before changing its ticker to CVS.

At its peak, Melville operated over 7,282 retail stores that sold everything from medication to shoes.

Beginning in the early 1990s, Melville was under pressure to reorganize and shed its diverse portfolio. Many of the chains the company operated were underperforming.

The chain shed all of its retail chains, except for CVS, which accounted for 40% of Melville's revenue. Its Peoples, Standard Drug, and Austin Drug pharmacies were converted to the CVS masthead. Most of the company's units that were unrelated to its pharmacy business were shed in 1995.

Many of the retail divisions that Melville once owned still operate either as independent companies or as subsidiaries of other companies.


Contents

During the height of Melville's success, the company operated the following retailing divisions.

  • Linens-N-Things
  • Prints Plus

  • This End Up
  • Wood's End


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