Peoples Drug
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| Peoples Drug | |
| Retail/Pharmacy | |
| Fate | Acquired by CVS |
| Founded | 1905 in Washington, D.C. |
| Founder | Malcolm Gibbs |
| Defunct | May 1994 |
| Headquarters | Alexandria, Virginia |
| Products | Pharmacy, Liquor, Cosmetics, Health and Beauty Aids, General Merchandise, Snacks, 1 Hour Photo |
Peoples Drug was a chain of drugstores based in Alexandria, Virginia, a suburb of Washington, D.C. Founded in 1905, Peoples was subsequently purchased by Lane Drug in 1975, Imasco in 1984, and finally by CVS in 1990, which continued to run the stores under the Peoples banner until 1994, at which time the stores were converted to CVS, marking the end of the use of the Peoples Drug name.
Peoples Drug was founded by Malcolm Gibbs in 1905 at 824 7th Street, NW. By 1930, it had 110 stores operating under the Peoples Drugs, Days Drug, and Shearer Drug names. There were variations of the name, with Peoples Service Drug, and Gibbs Peoples Drug being most common.
In 1970, Peoples had 252 stores operating in the District of Columbia, Maryland, Virginia, Pennsylvania, Ohio, West Virginia, North Carolina, South Carolina, Florida, New York, and New Jersey. That year there were 5,500 employees, with sales of $220 million and profits of $1.87 million. By 1975, Peoples had grown to 500 stores. Later in the year, the chain was purchased by Lane Drug of Toledo, Ohio., The new company retained the Peoples name, and included Lane Drug, Schuman Drug, Dynamic Drug, Health Mart, Reed Drug, and Lee Drug.
Lane president Sheldon "Bud" Fantle took over the presidency of the chain and went to work on improving merchandising and customer service at People's. In 1980, Peoples acquired the Indianapolis-based Haag Drug which had 80 drug stores in Indiana, Iowa, Illinois and Kentucky. In 1985, two 35,000-square-foot (3,300 m2) "Bud's Deep Discount Drug Stores" were opened in the Toledo area, with others in the Washington, D.C. metropolitan area. The name "Bud's" was derived from the nickname of Sheldon "Bud" Fantle. In January, 1987, Mr. Fantle left Peoples and later took control of troubled Dart Drug in Washington DC, renaming those stores Fantle's.
In 1984, Peoples was acquired for $320 million by the Canadian conglomerate Imasco, the Canadian arm of British American Tobacco, and owner of Shoppers Drug Mart and Pharmaprix in Canada. At that time, Peoples and its divisions had close to 800 stores and became one of the country's leading drug chains.
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