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CVS burned by tobacco ban

Published: October 30, 2015  By: admin, In: News,  3 Comments
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By Chris Isidore, CNN Money

Sales at CVS were once again burned by the chain decision not to sell cigarettes.

CVS Caremark reported that its general merchandise sales fell in the most recent quarter mainly as a result of its decision to pull cigarettes and other tobacco products from its shelves. due to their negative impact on health.

This was the fifth straight quarter that CVS took a hit to merchandise sales.

Still, total sales improved, climbing 10 percent, or $3.6 billion, thanks to a jump in spending on prescription drugs. But those drug sales face their own headwinds as several generic brands have hit the market in the last year.

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Comments (3)
  1. michael lee says - Posted: October 30, 2015

    I support and shop CVS for this decision.

  2. nature bats last says - Posted: October 30, 2015

    Me too!!!

  3. ljames says - Posted: October 31, 2015

    likewise – plus there is nothing in the “full” article that gives any evidence that the decline is related to not selling cigarettes other than it makes that statement?