Eckerd Corporation

Eckerd Corporation is a prominent American drugstore chain that was headquartered in Largo, Florida, and towards the end of its life, in Warwick, Rhode Island. The chain was founded in 1898 by J. Milton Eckerd. It was one of the nation's largest drugstore chains, but it was bought out by CVS Corporation and Jean Coutu Group in 2004.

History

The Eckerd Corporation was established in Erie, Pennsylvania by J. Milton Eckerd as Eckerd's Cut-Rate Drug Store. The business expanded rapidly, and by the mid-20th century, it had become one of the largest drugstore chains in the United States. The company was known for its innovation in the drugstore retail field, being among the first to offer self-service, open-shelf merchandising and a computerized inventory system.

Acquisition

In 2004, the Eckerd Corporation was split between the Jean Coutu Group, a Canadian drugstore company, and the CVS Corporation. The Jean Coutu Group took over the Eckerd stores in New York, Pennsylvania, and several other states in the Northeast and Mid-Atlantic regions. The CVS Corporation acquired the Eckerd stores in the Southern and Midwestern states.

Legacy

Despite its dissolution, the Eckerd name lives on in the Eckerd College in St. Petersburg, Florida, which was named after Jack Eckerd, the son of the founder. The college was the recipient of a significant portion of the Eckerd family's wealth.

See also

• List of pharmacy chains
• CVS Health
• Jean Coutu Group

References

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