Former type Drug store Defunct 1997 Founded 1958 | Industry Retail Ceased operations 1997 | |
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Fate Merged into Eckerd (now Rite Aid) Products Beauty products, drugs, snacks, beer, photo shop, movies, food and housewares. Headquarters Syracuse, New York, United States | ||
Fay's Drug was a chain of drug stores that was founded in 1958 in Fairmount, New York. At its height, Fay's Drugs operated its core business, along with Wheels Discount Auto and The Paper Cutter Books and Office and Party Supply.
Contents
Super dirt week xxv fay s drug stores 300 part 7 of 7
Beginning
In 1958, the first Fay's Drug Store was opened in Fairmount, New York by Henry A. Panasci, Jr. and his father Henry Panasci Sr. The store was named after Faye Panasci, wife of Henry Panasci, Jr.
Fay's steadily grew in Central New Yorkâthe resulting Fay's Drugs Company, Inc. was incorporated on October 20, 1966 and Fay's Drugs opened its headquarters in Syracuse, New York with the bulk of its operations residing in Liverpool, New York. At its peak there were over 300 stores operating in New York and Northeast Pennsylvania. Fay's enjoyed #1 market share in Buffalo, Rochester, Syracuse and Albany.
Acquisitions
In 1991, Fay's Drugs acquired the 48 drug stores operated by Victory Markets as Carls Drugs. Carls Drugs was founded by Carl Panasci, brother and uncle to the Fay's Drugs founders.
JCPenney
In 1996, Fay's Drugs was sold to JCPenney. JCPenney merged its drug operations into Eckerd in 1997. Many of the original Fay's Drugs locations that have not been closed in favor of stand-alone Eckerd stores (many now Rite Aid locations) still feature the familiar Fay's aisle and pharmacy formats that served as models for drug chains nationwide.