CVS is changing its name, no longer selling tobacco - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

CVS is changing its name, no longer selling tobacco

Posted: Updated:
In addition to changing its name, CVS has decided to stop selling tobacco products. (Source: CNN) In addition to changing its name, CVS has decided to stop selling tobacco products. (Source: CNN)

(CNN) – CVS Caremark will no longer sell tobacco products in its stores beginning Wednesday. That's nearly a month ahead of the previously targeted date of Oct. 1.

The rebranding also comes with a new name, CVS Health. Retail stores will still be called CVS Pharmacy.

In a video statement on the company website, CEO Larry Merlo said by eliminated the sale of cigarettes and tobacco products, “we can make a difference in the health of all Americans.”

In addition, CVS is also launching a campaign and program to help smokers quit.

The company has estimated the move could cost the chain about $2 billion in annual sales. But that's a fraction of its revenue, which totaled $126 billion in 2013.

Much of the revenue comes from healthcare services such as walk-in clinics and prescription drug coverage.

Copyright 2014 CNN. All rights reserved.

Powered by WorldNow

310 Broadway
Cape Girardeau, MO 63701

FCC Public File
publicfile@kfvs12.com
573-335-1212
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and KFVS12. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.