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CVS To Stop Selling Cigarettes By October
Posted on 2/5/14 at 7:50 am
Posted on 2/5/14 at 7:50 am
How do you guys feel about that? I know several here are invested in Philip Morris, and some might on CVS stock. Does this begin a trend for other companies to stop within the U.S.?
LINK
LINK
Posted on 2/5/14 at 7:52 am to RickAstley
CVS wouldn't be doing it if it hurt their bottom line. I'd imagine the margins are very small and it will allow them to use the space for more profitable items. Also probably allows them to use younger workers.
Posted on 2/5/14 at 8:07 am to RickAstley
I've always thought it to be contradictory for a medicine provider to sell something that is so universally accepted to be so detrimental to people's health.
I applaud CVS for making their decision.
I applaud CVS for making their decision.
Posted on 2/5/14 at 8:12 am to LSURussian
quote:I agree, it seems like it would improve their image.
I've always thought it to be contradictory
Posted on 2/5/14 at 8:12 am to LSURussian
$2b annual hit, but probably selling something else as another poster mentioned. How long until WAG and Rite Aid begin? You know they will bc of the PR (good and bad) associated with it.
Posted on 2/5/14 at 9:37 am to LSURussian
quote:
I've always thought it to be contradictory for a medicine provider to sell something that is so universally accepted to be so detrimental to people's health.
Well, I'm not sure how that can be. All the folks who think it's logistically viable to legalize ALL illicit drugs tell me how manufacturers and sellers will be falling over themselves to market "legal" heroin to the public.
Posted on 2/5/14 at 9:53 am to PelicanPoop
quote:
$2b annual hit
To revenue or profit? All that matters is the hit to profit.
Posted on 2/5/14 at 10:09 am to eelsuee
quote:
I've always thought it to be contradictory
I agree, it seems like it would improve their image.
I knew a guy that owned a small town pharmacy and he too refused to sell tobacco products. He thought it hypocritical to sell cigs when a pharmacy is about health.
This post was edited on 2/5/14 at 10:10 am
Posted on 2/5/14 at 10:13 am to Tempratt
So we're moving toward cigarettes only being sold in gas stations? I'm sure they're loving that.
Posted on 2/5/14 at 10:18 am to LSURussian
quote:
I've always thought it to be contradictory for a medicine provider to sell something that is so universally accepted to be so detrimental to people's health.
I didn't realize they were thought as a medicine provider... If they are going that route, how long until the candy/chips aisle is gone?
Posted on 2/5/14 at 10:28 am to RickAstley
quote:
invested in Philip Morris
PM and Altria already trending downward today. I'll jump in when it bottoms out!
Posted on 2/5/14 at 10:30 am to Lsut81
quote:
how long until the candy/chips aisle is gone?
Beer, wine and soda as well.
CVS has pretty large square footage footprints to begin start removing unhealthy products from their shelves. Perhaps they're planning to replace these items with consumer goods that shoppers can purchase for reduced prices at the likes of Wal-Mart, Costco etc.
I am sure most of the new buildings they occupy have long term leases. Perhaps they should have considered these square footage issues if they envision themselves becoming a European style pharmacy that sells prescriptions from 800 square foot store fronts.
This post was edited on 2/5/14 at 10:39 am
Posted on 2/5/14 at 10:48 am to LSUTexan78
quote:
Perhaps they're planning to replace these items with consumer goods that shoppers can purchase for reduced prices at the likes of Wal-Mart, Costco etc.
Was actually walking around CVS on Monday while waiting for a prescription to be filled. Their prices are outrageous compared to Grocery Stores. I don't see how they could really compete being that people only go there for quick items or prescriptions.
Posted on 2/5/14 at 11:09 am to C
quote:
I'd imagine the margins are very small and it will allow them to use the space for more profitable items
I wonder how many people bought overpriced 20 oz cokes, energy drinks, chips, candy, etc., along with the cigarettes they purchased. Seems like the cigs is somewhat akin to gasoline at a gas station--not super profitable, but it does drive traffic into the store.
Posted on 2/5/14 at 11:13 am to Jwodie
quote:
PM and Altria already trending downward today. I'll jump in when it bottoms out!
Be sure to let the board know when that happens...
Posted on 2/5/14 at 11:32 am to OnTheBrink
This trend will continue with other stores as well. There will come a point in time when you will only be able to by cigs at a cig shop or gas station.
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