CVS Health

CVS Announces It's Not Selling Any Tobacco Products A Month Earlier Than Expected
NEW YORK, NY - SEPTEMBER 03: CVS announced it had completed removing cigarettes and other tobacco products for sale from its store a month before its October 1st deadline by "putting out" a 50-foot tall cigarette in Bryant Park on September 3, 2014 in New York City. (Photo by Andrew Burton/Getty Images)Photograph by Andrew Burton — Getty Images

    When the cities of San Francisco and Boston banned the sale of tobacco in retail pharmacies, the number of cigarette buyers fell by 13%. Indeed, making cigarettes even slightly less accessible can push down childhood smoking rates. Which is why CVS Health’s decision, in early 2014, to stop selling tobacco products in its 7,600 stores was so momentous, and praised by public health officials. Investors have joined the chorus of hosannas, pushing CVS stock up 66% since the bold move—three times the return of the S&P 500 over the same period.

    Company Info

    IndustryFood & Drug Stores
    Revenues ($ millions)139,367
    Company typePublic
    CEOLarry J. Merlo
    Impact SegmentPublic Health/Nutrition

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