At the end of the day, it may see a drop in collateral sales, or it might not make a difference. Will it cause an increase in overall sales? Doubtful. They may see increases in individual locations, especially those located in the bible belt--ironically, the dreaded "bible beaters" will help the anti-smoking Libbos out on this one.
As a stockholder, I would have preferred if they let someone else be the trailblazer and if it enhances business then great. Time will tell ( in future earnings statments) if this was a good idea.
Who would buy cigarettes at CVS, anyway? When I saw the clip on the news, it showed "B reel" of an employee stocking the cigarettes, and they were like $8.50 a pack. A pack. Just one.
CVS has the right to do what they want to do, but a 2 billion dollar a year loss of income is pretty substantial.
Originally Posted by ChomskyOriginally Posted by OrphanSlug
Eh, I haven't smoked in 15 years so this doesn't affect me in the least. I have no problem with any company or private business deciding not to sell tobacco... or alcohol, or junk food, or red meat for that matter.
I would have a problem if there were local/federal mandates requiring companies and private business to cease selling these products. That isn't the case here, so meh.