CVS isn't going to sell tobacco products giving up 2B in revenue? What are they thinking? Smokes bring in customers and customers buy other products. I knew someone who worked for CVS, they quit because CVS did not live up to their agreement and they told me CVS was very disorganized..., at least the store where they were hired. This decision to not sell tobacco products will hurt them more than 2B a year. Look for them to reverse this stupid action. This could help Rite Aid and although it is noble effort, if you are the only one doing it, it just don't work. Layoff's at CVS to follow.
No one, as far as I know , is arguing smoking is good for you. Why then isn't it banned like other items of lesser consequence? Obviously its too much $ in tax revenue and most of the cost of cigarettes is just that. Moral questions are one thing and the bottom line is another. Agree this shouldn't hurt us and it still looks like this stock wants to run-now if only the general markets would.
Smoking is the only bad habit I don't have. But I know that it's one of the toughest to give up. This will force smokers that are used to picking up cigs and whatever they pick up at a CVS to change their habits. Nobody is going to make two trips when they are used to making one. "laudable" I agree and it will drive some new biz are way.