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Walgreens, America's largest chain of pharmacies, traces its roots back to 1901, when Charles R Walgreen bought out his employer and set up under his own name in Chicago's prosperous South Side.
Walgreens, America's largest chain of pharmacies, traces its roots back to 1901, when Charles R Walgreen bought out his employer and set up under his own name in Chicago's prosperous South Side. He became a registered pharmacist, mixing and packaging his own drugs to ensure their quality and affordability. He embraced the soda fountain craze, producing drinks and ice creams in summer, and teamed up with his wife to produce soups and sandwiches in winter.
Walgreen became a registered pharmacist, mixing and packaging his own drugs to ensure their quality and affordability. He embraced the soda fountain craze, producing drinks and ice creams in the summer and teaming up with his wife to produce soups and sandwiches in the winter. Food became an essential part of the service. Walgreens stores served three meals a day, playing a central role as small-town meeting places.
By 1925 Walgreen had more than 65 stores and had expanded to Milwaukee, St Louis and Minneapolis. He took the company public two years later, and at the time of the Great Depression Walgreens had more than 500 stores from New York to Florida. It countered the economic downturn by selling own-brand products, advertising on radio – and by selling bootleg whisky. After Walgreen's death in 1939 the business passed to his son. By 1975 sales surpassed $1bn (£639m), and the 1,000th Walgreens store opened in 1984. A series of acquisitions followed, but until now have been restricted to the US and Puerto Rico. Walgreens amassed $72bn in sales last year. Juliette Garside
By 1925 Walgreen had more than 65 stores and had expanded to Milwaukee, St Louis and Mineapolis. He took the company public two years later, and by the time of the Great Depression, Walgreens had over 500 stores and stretched from New York to Florida.
It countered the economic downturn with own brand products, marketing – becoming the first drugstore to advertise on the radio - and bootlegged whisky under the counter.
After Walgreen's death in 1939 the business passed to his son. The last Walgreen to run the company was Charles "Cork" R Walgreen III, who took over in the 1950s and whose modernisations included barcode scanning.
By 1975, sales had surpassed the $1bn (£639m) mark, and the 1,000th Walgreen store opened in 1984. A series of acquisitions followed, including the 66-unit Medi Mart chain. The company's expansion was rapid but until now has been restricted to the home market and the US dependency of Puerto Rico, with takeovers of rivals Happy Harry's and online retailer Drugstore.com.
Still headquartered in Illinois, in the Chicago suburb of Deerfield, Walgreens amassed $72bn in sales last year. Its 247,000 staff serve 6 million customers a day from 1,890 stores in every American state. It is known as Wags in the US because of its ticker, Wag.
