Are CVS and Rite Aid rival companies?


Quick Answer

CVS and Rite Aid are rival companies in the drug store retail sector. CVS is the second largest drug store chain in the United States and Rite Aid is the third largest, both behind Walgreens.

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Full Answer

As of 2015, CVS is based in Lowell, Massachusetts and has over 7,600 stores around the United States. The CVS name comes from its origins as a Melville Corporation subsidiary with the full name Consumer Value Stores. This was shortened to CVS in 1996, when the non-pharmacy stores were sold off by the Melville Corporation.

Rite Aid is based in East Pennsboro Township, Pennsylvania and has over 4,500 stores across the United States as of 2015. Nearly half of Rite Aid's stores are attributed to its merger with Eckerd and Brooks pharmacies in 2006.

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