February 5th, 2014 By Jack Morton
CVS announced today that it will stop selling all tobacco products by October – at an anticipated loss of $2 BILLION dollars a year in sales.
Their reasoning? They’ve been working hard to position themselves as a healthcare destination (including opening their walk-in Minute Clinics) and tobacco has no place in a setting promoting health and wellness.
It’s a bold move. Shocking, even. And one we have to admire.
They’ve taken a bold stance and committed to their vision, their brand, and the future of their company. And, yes, they are going to lose some customers (and sales) in the process.
But they are putting their money where their mouth is.
Hats off, CVS.