CVS to stop selling tobacco products
February 5, 2014 7:24AM
FILE - In this Wednesday, July 17, 2013 file photo, Marlboro cigarettes are on display in a CVS store in Pittsburgh. The nation's second-largest drugstore chain says it will phase out cigarettes, cigars and chewing tobacco by Oct. 1 as it continues to focus more on health care. The move will cost the Woonsocket, R.I., company about $2 billion in annual revenue. (AP Photo/Gene J. Puskar, File)
Updated: February 5, 2014 12:12PM
CVS Caremark is kicking the habit of selling tobacco products at its more than 7,600 drugstores nationwide as it focuses more on providing health care.
The nation’s second-largest drugstore chain said Wednesday that it will phase out cigarettes, cigars and chewing tobacco by Oct. 1, a move that will cost about $2 billion in annual revenue but won’t affect its 2014 earnings forecast. CVS Caremark leaders say removing tobacco will help them grow the company’s business of working with doctors, hospitals and other care providers to improve customers’ health.
CVS Caremark Corp. and other major drugstore chains have been adding clinics to their stores for several years now. Their pharmacists deliver flu shots and other immunizations, and those clinics also have been expanding the care they deliver. They now help people manage chronic illnesses like high blood pressure and diabetes.
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