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  • CVS banned tobacco. Now its sales are hurting

    08/06/2015 10:40:07 AM PDT · by rktman · 108 replies
    money.cnn.com ^ | 8/4/2015 | Matt Egan
    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...