The pharmacy chain CVS announced this morning that it will stop selling cigarettes and tobacco products at its 7,600 stories nationwide later this year.
The sales will stop Oct. 1 and will cost the company an estimated $2 billion in revenue, but many believe it could be a turning point in retail.
“Ending the sale of cigarettes and tobacco products at CVS/pharmacy is the right thing for us to do for our customers and our company to help people on their path to better health,” Larry J. Merlo, President and CEO, CVS Caremark said in a statement. “Put simply, the sale of tobacco products is inconsistent with our purpose.”
Merlo continued, “As the delivery of health care evolves with an emphasis on better health outcomes, reducing chronic disease and controlling costs, CVS Caremark is playing an expanded role in providing care through our pharmacists and nurse practitioners.”