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Article: Period of revitalization precedes the sale of longs.(NEWS/CVS CAREMARK)(Company overview)
- Article from:
- Mass Market Retailers
- Article date:
- May 18, 2009
CopyrightCOPYRIGHT 2009 Racher Press, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WOONSOCKET, R.I. -- In taking over Longs Drug Stores, CVS Caremark has not only strengthened its position in California and other western states but added one of the industry's most unique regional players to its stable.
Founded by brothers Thomas and Joseph Long, who opened their first store in Oakland, Calif. in 1938, Longs grew over the next 70 years to become one of the most recognizable names for drug store shoppers in California, Nevada and Hawaii.
At the time of the takeover by CVS Caremark, Longs operated 520 outlets.
Over the years Longs had a series of fiscal and operational ups and downs, but it was at one of the strongest positions ...