Posted on 02/05/2014 5:01:07 AM PST by Red in Blue PA
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.
(Excerpt) Read more at finance.yahoo.com ...
Others disagree:
Steve Cortes, founder of Veracruz TJM believes the company's exit from tobacco was a small sacrifice and a good move for the company from business perspective.
"It's too small of a percentage of revenue," says Cortes. "But, I think this is a very strong move for the company if for no other reason than just the PR aspect, the fact that we're talking about it right now. That kind of earned media coverage and goodwill is significant."
As well, the change in policy is consistent with the company's future, says Cortes.
"Selling tobacco is yesterday's business," says Cortes. "The future in an aging society is healthcare and I think that CVS is positioned exactly correctly for that kind of an aging demographic society."
Giving up $2 Billion in annual sales for no reason other than political correctness.
This A-Hole needs to be fired by his stockholders.
If the price wasn't artificially inflated by taxes, it might be a more affordable product.
It was okay, as long as you used the church-provided ashtrays.
I was recently in line behind a 70-year-old man who was CARDED at Walgreen's when he asked for a pack of cigarettes at the checkout.
This crap has gone beyond ridiculous to absurd.
What? Huh?
When I was still smoking and bought cigarettes at the Weis Market grocery store, I had to give my date of birth so the cashier could ring up the sale. Conversely when I bought nicotine patches at Target, I had to do the same. While I don’t think at 52 that I look 70, I certainly don’t look 21 or younger. LOL!
They would be castigated and excoriated at the next press conference by The Obama, Reid or Pelosi.
Says who? A lot of respondents jack with pollsters including me.
They stink, they make you die young and they make you smell like a cop.
It’s more fun to jack with the smokies. Make ‘em jump through hoops, turn ‘em into social pariahs, marginalize them, ban their vice and jack the cost till their knickers get into a serious twist.
Life is good.
Funny you should mention JPM. They published a research piece following the CVS announcement, noting that while this might help CVS’s competitors in the short term: “We believe there is a high likelihood that other retail pharmacy chains exit the tobacco category as the sale of these products goes against the goal of driving healthy living and improving health outcomes.” In other words, as pharmacy chains shift their businesses to become something closer to full-service health providers, it is likely that they will exit the tobacco business. As a business decision. Y’know, just like I (and others) have been saying.
Honestly it doesn’t matter what JPM says...Red in Blue PA has made his mind up.
You are one sicko statist.
Seek help.
I agree it’s ridiculous. I think CVS here is trying to get PC publicity.
Hey, they sell narcotics at CVS. What’s the problem with tobacco?
As others have said, it’s a private company and they can do whatever they want and sell whatever legal product they want. This is not really about PC publicity per se. That’s just a side effect.
They see an opportunity to make a lot of money at their CVS minute clinic with the ACA and Medicare. There aren’t enough primary care doctors to serve all of the people looking For health care for basic uncomplicated routine problems. They have nurse practitioners who can see them and charge 90 bucks for a half hour of work. The profit margin there is a lot higher Then selling cigarettes. The profit margin for retailers and tobacco manufacturers are really small. The biggest beneficiary of cigarette sales is government.
You mad bro?
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