UPDATED: Wednesday, February 5, 2014 --- 7:15 p.m.
CVS Pharmacy makes a major announcement. The drug store chain says, it will be completely removing cigarettes and tobacco products from its shelves.
It could be called a risk. The company says, they expect to lose close to $2 billion dollars a year.
October 1st, is the deadline for the more than 7,600 stores to pull cigarettes and other tobacco products from the shelves.
So why the sudden announcement?
Madison College, marketing professor, Steve Noll says, it was a planned move and months in the making. Adding that the brand is trying to get back to its core by selling health products, and staying away from being a convenience store.
"There's been a trend in the major drug store companies, in the last decade or so to become more of a convenience store destination. We're seeing this as a trend nationwide, with major drug store chains," said Noll.
So will other drug stores like Walgreens follow suit?
Professor Noll says, it's a good possibility. However, Walgreens won't make any sudden change. He says they'll watch closely to the numbers and sales figures from this major move.
Posted: Wednesday, February 5, 2014 --- 6:26 a.m.
CVS Caremark announced today that it will stop selling cigarettes and other tobacco products at its more than 7,600 CVS/pharmacy stores across the U.S. by October 1, 2014. This makes CVS the first national pharmacy chair to take this step in support of the health and well-being of its patients and customers.
CVS Caremark's decision to stop selling tobacco products is consistent with the positions taken by the American Medical Association, American Heart Association, American Cancer Society, American Lung Association and American Pharmacists Association that have publicly opposed tobacco sales in retail outlets and pharmacies.
In addition to removing cigarettes and tobacco products for sale, CVS Caremark will undertake a national smoking cessation program. The program to be launched this spring is expected to include information and treatment on smoking cessation at CVS and MinuteClinic along with online resources.