CVS, which is the nation’s 2nd largest pharmacy, has decided to practice what they preach by no longer selling cigarettes or any tobacco products in there stores by the end of this year!
It’s estimated that this bold move could cost them over $2 billion in annual revenue which amounts to around 6 to 9 cents a share this year and about 17 cents annually starting next year.
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“Cigarettes have no place in an environment where health care is being delivered,” said Mr. Merlo, a 58-year-old former pharmacist who became CEO of CVS Caremark in 2011. “This is the right decision at the right time as we evolve from a drugstore into a health-care company.”
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