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CVS Taking Cigarettes Off the Shelves
The pharmacy chain will stop selling tobacco in October.
Ben Radding | February 5, 2014
Tobacco takes the lives of an estimated 400,000 Americans every year. And in response to that staggering statistic, CVS Caremark announced today that it will cease selling tobacco products by October.
"Ending the sale of cigarettes and tobacco products at CVS/pharmacy is the right thing for us to do for our customers and our company to help people on their path to better health," Larry J. Merlo, president and CEO of CVS Caremark, said in a statement. "Put simply, the sale of tobacco products is inconsistent with our purpose."
With around 7,600 stores nationwide, the move is expected to cost the pharmacy chain an estimated $2 billion (that's billion, with a "B") in revenue. No word yet on whether other pharmacies will follow suit, but Big Tobacco can't be too pleased. David Howard, a spokesman for R.J. Reynolds Tobacco Co., said, "We value the long-term relationship with CVS and respect their commercial decision. We will work with them as they transition out of the tobacco category in the coming months."
Awkward.
According to CNN, 19% of the U.S. population still smokes, and CVS plans to start new initiatives to help people quit the habit. It's a commendable (and, in retrospect, obvious) idea that tobacco cessation should start at the pharmacy level.
RMKICKS IS POWERED BY: A UNIQUE DESIRE TO EXCELL, BNSF & LF GEAR!!!!
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PAiN thanked for this post
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Probably a smart move socially, but the business side of me wants to slap them in the face. Time to pull your stocks out of CVS gentleman.
Nice article kicks, delivering us quality as always brother. Thank you for that.
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Originally Posted by
enrod
Probably a smart move socially, but the business side of me wants to slap them in the face. Time to pull your stocks out of CVS gentleman.
Nice article kicks, delivering us quality as always brother. Thank you for that.
You got that right brother!
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I love how the CEO says "it's inconsistent with its purpose." Did he forget they also sell alcohol!?
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I don't need CVS to be my moral compass. They estimate it will be a 2 billion dollar annual loss, good move CEO. Way to watch out for your stock holders. I think people forget that cigarettes are completely legal. If there dropping cigarettes, they should also drop alcohol, what about products with too much sodium, msg, caffeine. I hope Walgreens says, We have plenty of cigarettes, come here to shop and blow them out of the water. And I do not smoke, at all. I just bothers me when people pick certain items to tax or eliminate.
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I would not want him as the CEO of my company... Looks like the board of directors need to step back and really review this move by the CEO.. I know he said that all of the board members were in agreement about this but I'm thinking they did so out of security for their "JOB".
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Ok, so I'm gonna be the guy who sticks his dick in the mashed potatoes. CVS is making a good move irrespective of motive. Fuck the stock holders. They want to play the market, then they can big boys and girls and accept the consequences. Cigarettes need to be marginalized to the point of extinction. They are a product with Zero value, unless what you value is a 1 minute morning buzz; a life-time of addiction; COPD; Cancer; etc...
And lets not compare cigarettes to sodium and caffeine. There's no parallel there.
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Originally Posted by
telmon1
I love how the CEO says "it's inconsistent with its purpose." Did he forget they also sell alcohol!?
you have a point.
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I agree with hunk. Cigarettes have no health benefits. Beer/alcohol at least has some benefit when drank in moderation occasionally.
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Originally Posted by
enrod
Probably a smart move socially, but the business side of me wants to slap them in the face. Time to pull your stocks out of CVS gentleman.
Nice article kicks, delivering us quality as always brother. Thank you for that.
Originally Posted by
telmon1
I love how the CEO says "it's inconsistent with its purpose." Did he forget they also sell alcohol!?
Originally Posted by
stiphy
I don't need CVS to be my moral compass. They estimate it will be a 2 billion dollar annual loss, good move CEO. Way to watch out for your stock holders. I think people forget that cigarettes are completely legal. If there dropping cigarettes, they should also drop alcohol, what about products with too much sodium, msg, caffeine. I hope Walgreens says, We have plenty of cigarettes, come here to shop and blow them out of the water. And I do not smoke, at all. I just bothers me when people pick certain items to tax or eliminate.
Agreed!
OH NO! Where will I buy my cigarettes now? Oh wait the competition next door.
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