Submitted by WIKY News on Wed, 02/05/2014 - 3:48pm
A Purdue University retail analyst says CVS has made a bold move with plans to get out of the tobacco business. CVS says it plans to stop selling cigarettes and tobacco products in its stores by October 1st. Dr. Richard Feinberg says the pharmacy giant‘s decision is in keeping with current anti-smoking cultural values. However, Feinberg says the move will certainly result in loss revenue which CVS will have to replace, possibly by slightly raising its prices. Feinberg says other retailers like Walmart and convenience store chains will certainly benefit.