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CVS no longer selling tobacco products

 
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keepgrowing View Drop Down
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    Posted: Sep 03 2014 at 4:03pm

As CVS sharpens its focus on customer health, the nation's second-largest drugstore chain will tweak its corporate name and stop the sale of tobacco nearly a month sooner than planned.

CVS Caremark said it will now be known as CVS Health, effective immediately. The signs on its roughly 7,700 drugstores won't change, so the change may not register with shoppers.

However, those customers will see a big change when they check out. The cigars and cigarettes that used to fill the shelves behind store cash registers have been replaced with nicotine gum and signs urging visitors to kick the tobacco habit.

A store in downtown Indianapolis also stocked free tobacco quit packs where cigarettes used to sit. The red-and-white boxes, nearly the size of a cigarette pack, contain coupons, a card showing how much a smoker can save by quitting and a booklet with Sudoku and other games to distract someone fighting the urge to smoke.

CVS and other drugstores have delved deeper into customer health in recent years, in part to serve the aging baby boom generation and the millions of uninsured people who are expected to gain coverage under the federal health care overhaul. While competitors Walgreen Co. and Rite Aid Corp. still sell tobacco, they've all started offering more health care products and added walk-in clinics to their stores while expanding the care they provide.

Drugstores now offer an array of vaccinations and flu shots, and many of their clinics can help monitor chronic illnesses like diabetes or high blood pressure.

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This March 25, 2014 photo shows a CVS store in Philadelphia. …
This March 25, 2014 photo shows a CVS store in Philadelphia. . (AP Photo/Matt Rourke)

"We're doing more and more to extend the front lines of health care," CVS CEO Larry Merlo said.

CVS still stocks its shelves with sugary snacks and other foods that are considered unhealthy. But company executives have been quick to point out that while chocolate bars in moderation pose little health risk, no amount of tobacco is considered safe.

The CVS corporate name change reflects the health push while removing a reference to the company's biggest revenue producer, its Caremark pharmacy benefits management.

The name Caremark, however, had never really registered with the average person, according to Laura Ries, president of the brand consulting firm Ries & Ries.

CVS, which is ranked 12th in the 2014 Fortune 500, announced in February that it would phase out tobacco sales by Oct. 1 because it could no longer sell smokes in a setting where health care is offered.

The CEO at CVS has said that the company expects to lose about $2 billion in revenue annually after pulling tobacco from its shelves, but executives believe they can counter that loss at least in part through growth the company may get from health care. Merlo declined estimate how much of a benefit CVS expects.

The potential revenue loss hasn't spooked investors so far. CVS shares have climbed about 22 percent since the tobacco announcement. Shares rose 83 cents to $80.56 in afternoon trading.

http://news.yahoo.com/cvs-changes-name-stops-tobacco-040242354.html



Edited by keepgrowing - Sep 03 2014 at 4:19pm
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bindy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bindy Quote  Post ReplyReply Direct Link To This Post Posted: Sep 03 2014 at 4:11pm
Clap
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ModelessDiva Quote  Post ReplyReply Direct Link To This Post Posted: Sep 03 2014 at 4:13pm
Oh well
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Post Options Post Options   Thanks (0) Thanks(0)   Quote carolina cutie Quote  Post ReplyReply Direct Link To This Post Posted: Sep 03 2014 at 4:13pm
I don't have a problem with it.
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Miss B View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Miss B Quote  Post ReplyReply Direct Link To This Post Posted: Sep 03 2014 at 9:13pm
Makes sense.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BBpants Quote  Post ReplyReply Direct Link To This Post Posted: Sep 03 2014 at 9:30pm
2 billion dollars.....let me sell tobacco then
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Post Options Post Options   Thanks (0) Thanks(0)   Quote rickysrose Quote  Post ReplyReply Direct Link To This Post Posted: Sep 03 2014 at 9:44pm
2 billion today? At one retailer?  Can't believe they still sell so much.

No advertising, so many restrictions, public opinion, lawsuits, health warnings
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Marcelo22 Quote  Post ReplyReply Direct Link To This Post Posted: Sep 03 2014 at 9:50pm
where will i get my menthols now
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Post Options Post Options   Thanks (0) Thanks(0)   Quote thickblkbarbie Quote  Post ReplyReply Direct Link To This Post Posted: Sep 03 2014 at 11:49pm
Good ,, all these years , I never question ,why pharmacy /convenient store sold cigarettes, Cvs is a big corporation , We handle their Peer Review Cases,at my job , I just recently logged off their web site , collecting cases , for my company to review..
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Post Options Post Options   Thanks (0) Thanks(0)   Quote thewonderfulwa Quote  Post ReplyReply Direct Link To This Post Posted: Sep 04 2014 at 12:04am
If people want to buy cigarettes theyll find a store
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