CVS Quits Tobacco

    SAN FRANCISCO, CA - NOVEMBER 05:  Signs are posted outside of a CVS store on November 5, 2013 in San Francisco, California.  CVS Caremark reported a 25 percent surge in third-quarter earnings with profits of $1.25 billion, or $1.02 per share, compared to $1.01 billion, or 79 cents a share one year ago.  (Photo by Justin Sullivan/Getty Images)

    Justin Sullivan/Getty

    In a move that will cost the company $2 billion in sales a year, CVS/Caremark will no longer sell cigarettes and other tobacco products beginning in October. The country’s largest drugstore chain has overall sales of $123 billion, and has been transitioning towards becoming more of a health care provider, rather than a general retail outlet. “We have about 26,000 pharmacists and nurse practitioners helping patients manage chronic problems like high cholesterol, high blood pressure and heart disease, all of which are linked to smoking. We came to the decision that cigarettes and providing health care just don’t go together in the same setting,” said CEO Larry J. Merlo.

    Read it at The New York Times