Not sure if "CVS receipt layout" is a common term or not, but I've used it over the last 10 years or so.

It describes websites that have massive margins with the content displayed as a thin strip down the middle; everything on the side is just wasted space (or crammed with ads).

Receipts from the retailer CVS are a known joke where the smallest, single-item purchase will generate a receipt that's 6 foot long because of all the ads, coupons, and other junk tacked on.

In the old days, it was a lazy way to make websites work on desktop and mobile. Now, it's a lazy excuse for not doing responsive design and/or allocating massive amounts of space for ads. I hate it. lol.