Viewed from the perspectives of 1978 and 2002, the chain drug industry has undergone revolutionary change. But actually the change has been evolutionary--at least until the consolidation of the 1990s--as the following time line reveals.
The recapitulation of highlights from 25 years of Chain Drug Review demonstrates that incremental steps, including some notable setbacks, led to the industry's current opportunities and challenges. There is one constant, however, namely growth.
Drug chains in the '70s, '80s, '90s and 21st century have been well positioned to serve America's mounting health care needs--especially for prescription drugs--and expand with an expanding economy. The events that are summarized in the time line are a testament to their success.
September ... 1978
Chain Drug Review's first issue debuts on September 11, 1978.
A battle of two combination store giants is shaping up in the Southeast, where both Family Center, the autonomous A&P combination store division, and Kroger Sav-on, the combo arm of the Cincinnati-based supermarket chain, are concentrating most of the units.
A Revco prototype warehouse is under construction in North Augusta, S.C. The 275,000-square-foot distribution center is perhaps the most advanced in the chain drug industry.
Sav-on enters the Las Vegas market, its second out-of-state move since entering Houston several years ago.
October
Skaggs will open its first combination stores in New Mexico this fall, with two 54,000-square-foot food/drug units set to debut in Albuquerque early this month.
Pay 'n Save recently made its first move into Wyoming with the opening of a 54,000-square-foot combination drug and home center.
November
Fred Canning is named president and chief operating officer of Walgreens, succeeding Robert Schmitt, who died suddenly last month.
SupeRx announces that it will be kicking off a five-year plan to develop a large, internally run optical program.
Telephones, an added chain drug store starter for the Christmas season, begin to look like a good bet for the holidays.
December
Perry Drug Stores has opened a 13,000-square-foot prototype store that features a home/auto center, an expanded sporting goods section and a display of live pets to anchor its pet products area.
January ... 1979
The year opens with a bang as drug chains report a record Christmas with sales rising 14% over last year's period to $1.43 billion.
Walgreens announces two experiments at its annual meeting: the use of optometrists in its optical centers and the opening of three more minicombo units.
February
Hook Drug says it will strike out in two new directions by opening two drug stores in southern Illinois--its first move outside Indiana--and by testing convenience stores.
After an 11-year absence from the pharmacy business in Dallas, Safeway returns by acquiring five drug stores adjoining its supermarkets, which it had sold to Skaggs.
March
Skaggs and American Stores announce that they are holding merger talks.
April
Jack Eckerd announces a merger with Brooks Fashion Stores.
Bergen-Brunswig moves into two new states--Texas and Georgia--bringing the number of states the wholesalers operates in to 11.
May
The chain drug industry is shocked by reports...
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