CVS Caremark renames itself CVS Health; ends tobacco products sales


Coinciding with the sale of its last tobacco product today, CVS Caremark (NYSE:CVS) is unveiling its new corporate name: CVS Health.

CVS said in February that it would rid all of its 7,700 stores of tobacco products by Oct. 1, but in the end decided to eliminate them one month ahead of schedule.

Although the move will cost the retail chain $2B in annual sales, CVS is banking that the distinction can help it win business in other parts of the company.

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Comments (12)
  • DeepValueLover
    , contributor
    Comments (11326) | Send Message
     
    Do they still sell junk food?
    3 Sep 2014, 03:22 AM Reply Like
  • Sakelaris
    , contributor
    Comments (2682) | Send Message
     
    A better world is not to be built in a day. No evil can ever be removed from the world if, as a condition, we were to insist that all wrong things be gone simultaneously.

     

    Besides, junk food can be distinguished from tobacco in two important ways:

     

    (1) Some junk food customers do manage to consume those products in moderation--whereas there appear to be almost NO tobacco consumers of a moderate level. Anyone know of a twice-a-week cigarette smoker?

     

    (2) Secondly, a junk food consumer can be next to me, and it does not increase my chances of getting cancer. But cigarette smokers, if next to me, do increase that risk.

     

    Good going, CVS!
    3 Sep 2014, 08:53 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (11326) | Send Message
     
    But they do still sell junk food?

     

    They should change the name to CVS Health and Junk Food.
    3 Sep 2014, 09:36 AM Reply Like
  • Aaron.Rhodes
    , contributor
    Comments (362) | Send Message
     
    My wife can smoke 1 or 2 cigarettes a month. She's not addicted. I, however, had to quit after getting up to a pack a day for 5 years.
    3 Sep 2014, 10:05 AM Reply Like
  • Sakelaris
    , contributor
    Comments (2682) | Send Message
     
    As for the "lost sales money," CVS Health may well compensate for a lot of that by having fewer shoplifters, as smokers will go elsewhere and take their shoplifting ways with them.
    3 Sep 2014, 08:42 AM Reply Like
  • MEKhoury
    , contributor
    Comments (407) | Send Message
     
    I don't even know where to begin with this
    3 Sep 2014, 08:59 AM Reply Like
  • phildevoyd
    , contributor
    Comments (216) | Send Message
     
    I spoke to a CVS employee about this. He said, "Forget about the cig sales. The real money is made by the pharmacy".
    3 Sep 2014, 08:56 AM Reply Like
  • tomlos
    , contributor
    Comments (1299) | Send Message
     
    Thanks to the morality police for this grand decision. Who needs to let adults make adult decisions anymore. Meanwhile, their candy aisle is loaded, sugary drinks, addictive drugs are still sold at a large profit margin. Bravo for your stupid PR stunt CVS!
    3 Sep 2014, 10:13 AM Reply Like
  • Aristotle2k
    , contributor
    Comments (277) | Send Message
     
    The difference is junk food in moderation hasn't been shown to kill you; there is no safe consumption of cigarettes. Don't get me wrong I'm invested in Altria so keep on smoking; but it's a lame comparison.
    3 Sep 2014, 10:46 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (11326) | Send Message
     
    Lots of people have smoked in moderation and lived long lives. Not all smokers are three pack a day people who die at age 60.

     

    Meanwhile a lot of morbidly obese Americans feed their sugar habits at CVS "Health".

     

    If this to be any more than a grand PR gesture then they'd drop the soda, cheese curls and candy bars too.
    3 Sep 2014, 12:05 PM Reply Like
  • Aristotle2k
    , contributor
    Comments (277) | Send Message
     
    Morbidly obese means they abused whatever it was they were eating; doesn't even have to be snacks could be entire chickens. Just because some people are fine smoking cigarettes doesn't negate the overwhelming research that tobacco has a link to cancer.

     

    Many of the CVS locations have minute clinics inside; whether you agree with them or not if they want to go that route they need to mimic a doctors office without completely demolishing their business. Even if they were going to eliminate candy also why would they do it all at once if they are already going to lose multi-million just to leave cigs.

     

    This is a stocks site yet everyone always skips the business case.
    3 Sep 2014, 01:16 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (11326) | Send Message
     
    This is a PR stunt. I don't believe for a second that the executives at CVS "Health" all of a sudden grew a conscious regarding what they sell to the public.

     

    How many Americans die from smoking vs. those who die from diseases brought on by poor diet?
    3 Sep 2014, 07:21 PM Reply Like
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