CVS acquires Target pharmacy business (2015)
CVS bought Target's pharmacy and clinic operations for $1.9 billion, converting Target store pharmacies into CVS locations. This created the 'store-in-store' format that still operates today.
CVS gained access to Target's high-traffic locations and expanded its footprint without building new standalone stores.
It marked CVS's move toward diversifying store formats and embedding pharmacy services in non-traditional retail venues.
The pharmacy-focused stores are another variant in CVS's growing portfolio of formats, continuing its strategy of adapting physical presence to suit different communities and cost pressures.
