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Thread: CVS becomes first big US drugstore chain to drop tobacco

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    Re: CVS becomes first big US drugstore chain to drop tobacco

    Quote Originally Posted by Zyphlin View Post
    I doubt it's some elaborate conspiracy.

    They already stated that the profit margin on cigarettes wasn't that significant to their business, and the publicity and favor this will probably curry with a certain brand of consumers will probably off set that.
    If that demographic was that big of a money maker, retailers would be dumping tobacco products left and right.

    I believe it all boils down to having enough anti-smoking members on the board of directors, to vote to discontinue tobaccos sales.
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    Re: CVS becomes first big US drugstore chain to drop tobacco

    Quote Originally Posted by EMNofSeattle View Post
    they won't lose that much, according to the news their annual revenues are 130 billion and tobacco sales are about 2 billion of that. hardly a drop in the bucket.

    Central Market grocery stores here in WA don't sell Tobacco, and I believe whole food doesn't either. they don't seem to be at a loss for it.
    Something you have to take into consideration, are the sales of other products that will drop when tobacco buyers go elsewhere. Most buyers didn't come into CVS just to buy tobacco; they would probably purchase other products as well, whether it be intentional, or impulse purchases. How many tabacco buyers brought their kids with them? It's damn near impossible to bring a kid into any given store without buying a candy, or a coke.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: CVS becomes first big US drugstore chain to drop tobacco

    Quote Originally Posted by apdst View Post
    Something you have to take into consideration, are the sales of other products that will drop when tobacco buyers go elsewhere. Most buyers didn't come into CVS just to buy tobacco; they would probably purchase other products as well, whether it be intentional, or impulse purchases. How many tabacco buyers brought their kids with them? It's damn near impossible to bring a kid into any given store without buying a candy, or a coke.
    I just don't think it's as big a deal as people make it out to be. I would be very surprised if Tobacco products remain available in retail stores outside of specialty tobacco stores in 20 years time, the share of smokers is declining in the United States and will continue to do so...... it becomes to the point where tobacco will take up shelve space that something else can occupy. large corporations rarely make decisions as part of a "moral stand" unless they see profit in the message. I'm sure internal studies CVS has conducted indicate a possibility of more profit doing something else.....
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    Re: CVS becomes first big US drugstore chain to drop tobacco

    Quote Originally Posted by WCH View Post
    Strange, Obama came out nearly immediately and praised them for helping 'his' campaign against smoking related deaths.

    Obama praises CVSís decision to stop selling cigarettes

    Something smells!
    I didn't see whether the President praised Colorados decision to legalize smoking an illegal substance.
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    Re: CVS becomes first big US drugstore chain to drop tobacco

    Quote Originally Posted by EMNofSeattle View Post
    I just don't think it's as big a deal as people make it out to be. I would be very surprised if Tobacco products remain available in retail stores outside of specialty tobacco stores in 20 years time, the share of smokers is declining in the United States and will continue to do so...... it becomes to the point where tobacco will take up shelve space that something else can occupy. large corporations rarely make decisions as part of a "moral stand" unless they see profit in the message. I'm sure internal studies CVS has conducted indicate a possibility of more profit doing something else.....
    If tobacco users were declining as you say, more retailers would be discontinuing tobacco sales more rapidly. Tobacco has been quite popular for a few hundred years now and will continue to be for some time to come.

    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.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: CVS becomes first big US drugstore chain to drop tobacco

    Quote Originally Posted by apdst View Post
    Something you have to take into consideration, are the sales of other products that will drop when tobacco buyers go elsewhere. Most buyers didn't come into CVS just to buy tobacco; they would probably purchase other products as well, whether it be intentional, or impulse purchases. How many tabacco buyers brought their kids with them? It's damn near impossible to bring a kid into any given store without buying a candy, or a coke.
    The article I read on this today says that the other purchases are built into the $2 billion estimated sales loss. Tobacco products are about $1.5 billion and another $500 million of other stuff, just as you mentioned.

    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.

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    Re: CVS becomes first big US drugstore chain to drop tobacco

    Quote Originally Posted by apdst View Post
    If tobacco users were declining as you say, more retailers would be discontinuing tobacco sales more rapidly. Tobacco has been quite popular for a few hundred years now and will continue to be for some time to come.

    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.
    The big tobacco companies are doing more business overseas these days anyway...Look at the millions of new customers they are expecting. They won't lose money. :

    Greetings, apdst.

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    Re: CVS becomes first big US drugstore chain to drop tobacco

    Quote Originally Posted by washunut View Post
    The article I read on this today says that the other purchases are built into the $2 billion estimated sales loss. Tobacco products are about $1.5 billion and another $500 million of other stuff, just as you mentioned.

    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.
    Tobacco and alcohol are just a draw, to get people in the door and purchase products with a higher profit margin.

    Tobacco and alcohol are usualy single digit markups, but they create profit with impulse buys that could be as much as a 20% markup.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: CVS becomes first big US drugstore chain to drop tobacco

    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.
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    Re: CVS becomes first big US drugstore chain to drop tobacco

    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.

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