Posted on 08/06/2015 10:40:07 AM PDT by rktman
Last September, CVS became the first major pharmacy chain in America to stop selling cigarettes and other tobacco products in its stores. The drug store chain said it was the right thing to do -- even though it would hurt sales.
Now CVS (CVS) is detailing just how much the tobacco ban is impacting the company. While prescription sales continue to rise, general merchandise sales tumbled nearly 8% last quarter on a same-store basis.
CVS blamed the slump on the tobacco ban. The company said front-store sales would have been flat compared with the year before if they didn't make the change.
(Excerpt) Read more at money.cnn.com ...
"That's wonderful.....Now you only sell "Pure Nicotine"....at $40 a crack."
Isn’t CVS a system for archiving source code?
One market here.....raised their prices above MARKET PPRICE by two bucks a pack....as a “statement”.......and the “market” for their cigarettes dried up completely...
PC at that level is SCAREY STUPID
let’s ask the stockholders how much they like being politically correct now!
HA HA!!! Told-Ja!
They are pulling the plug on Viagra too. Dumb decisions.
Do you have any doubt that they’ll sell MJ once it’s regulated and taxed? Even if it’s only by presctiption. Of course when it comes to recreational usage, who knows? Do they sell booze where they can? How about sugary sodee pop? Candy? High calorie food items that may or may not be GMO’s?
So they decide to not sell a specific “merchandise” then wonder why “merchandise” sales are down? I’ll bet they thought their sales would increase as payback for doing a good deed.
Misleading headline. Their “general merchandise” sales are down, as they expected they would be (since tobacco was a significant driver of those sales). Their prescription sales are up, as they hoped they would be by shifting away from tobacco towards more health-related areas (pharmacy, in-store clinics, etc.).
This is exactly what they expected would happen when they made the announcement.
you know what's really probably much worse for us then the cigarettes?....those sugary tea drinks, and coffee drinks, and the redbull type stuff....kids are living on that stuff, and dare I say , addicted to it...
I never buy anything at a drug store except prescription meds. Everything else is cheaper at the grocery store - cough syrup, cold medicine, etc.
I still go to CVS because they are much more competent than my local Walgreens. If I smoked, I probably would boycott them.
Tobacco sales are low margin and high labor.
I”m not sure how these big box drug stores stay in business especially if there is a Walmart nearby.
Not to mention home delivery in 3-month supply with only two copays.
Hmmmm. I see the ads on TV where some young lady is lamenting those over 40 who may have an issue getting or maintaining. Did anyone ever ask “Maybe it’s something you aren’t doing mademoiselle that is the problem.” Just sayin’. :>}
Maybe they can rais all their emplloyees pay to 70k/year. I heard that worked out well too.
Sounds like you need a couple of ‘5 Hour Energy’ hits. LOL! How did we ever work 12 hour shifts 7 days a week for months on end and midnight to noon and an hour drive each way without this stuff?
Besides which, it's dumb. Big brother wants to know everything possible about the lifestyles of people. So how does a pharmacy not selling them cigarettes and keeping that information in their profiles helpful to them?
Not that I understand why people buy things like cigarettes, alcohol, junk food using any method where it can be tallied. But people do.
I have boycotted them for quite some time due to their withdrawal of support from the Boy Scouts over their stance on queers. Now I have to boycott the scouts as well. What a world, what a world.
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