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Obama: CVS Decision to Stop Selling Cigarettes Will Have ‘Profoundly Positive Impact’
WSJ ^

Posted on 02/05/2014 8:01:34 AM PST by Red in Blue PA

CVS, the country’s second-largest pharmacy chain, plans to stop selling all cigarettes and tobacco products, saying they have no place in a drugstore company that is trying to become more of a health-care provider. The White House released this statement from President Barack Obama on CVS’s decision: “I applaud this morning’s news that CVS Caremark has decided to stop selling cigarettes and other tobacco products in its stores, and begin a national campaign to help millions of Americans quit smoking instead. As one of the largest retailers and pharmacies in America, CVS Caremark sets a powerful example, and today’s decision will help advance my Administration’s efforts to reduce tobacco-related deaths, cancer, and heart disease, as well as bring down health care costs – ultimately saving lives and protecting untold numbers of families from pain and heartbreak for years to come. I congratulate – and thank – the CEO of CVS Caremark, Larry Merlo, the board of directors, and all who helped make a choice that will have a profoundly positive impact on the health of our country.”

(Excerpt) Read more at blogs.wsj.com ...


TOPICS: News/Current Events
KEYWORDS: cigarettes; cvs
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I would advise anyone holding CVS stock to sell. Anytime a business gets into bed with govt, it is never good for the shareholders.

Coca-Cola was a top performing stock for many years and then acted in the interest of a govt initiative instead of hat is good for shareholders, and shareholders got screwed. No different here.

Anything obozo touts is not a good thing.

1 posted on 02/05/2014 8:01:34 AM PST by Red in Blue PA
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To: Red in Blue PA

THE GREAT OZ HAS SPOKEN!! Actually, if I were on the board of CVS or a stock holder, getting the blessing of the dungbeetleOTUS would scare me to no end. Everything he touches turns to lead.


2 posted on 02/05/2014 8:04:02 AM PST by albie
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To: Red in Blue PA

As long as you can still buy cigarettes at any gas station in the country then then the only impact this decision will have is on CVS’s balance sheet.


3 posted on 02/05/2014 8:08:29 AM PST by circlecity
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To: Red in Blue PA

Interesting fun fact: The new Dollar Store just a block from the old CVS just started selling tobacco products.


4 posted on 02/05/2014 8:09:08 AM PST by Casie (democrats destroy)
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To: circlecity

It certainly won’t have a positive impact on their stock prices.


5 posted on 02/05/2014 8:09:35 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Red in Blue PA

What effect except to force people to drive to a different store? (And put more of those nasty CO2 molecules in the air.)


6 posted on 02/05/2014 8:10:44 AM PST by Blood of Tyrants (Haven't you lost enough freedoms? Support an end to the WOD now.)
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To: MrB

Currently:

Dow down 0.51%

CVS down 3 times as much: 1.66%


7 posted on 02/05/2014 8:10:55 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: circlecity

8 posted on 02/05/2014 8:12:47 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

Poor Feds and States losing all that tax money.


9 posted on 02/05/2014 8:13:41 AM PST by scooby321
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To: Red in Blue PA

Clearing the shelves to make room for Big Choomer brand legalized marijuana.


10 posted on 02/05/2014 8:15:17 AM PST by Iron Munro ("Show me the man, and I'll show you the crime." - Lavrentiy Beria (& Eric Holder))
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To: Red in Blue PA

Ok, to recap from the other thread: CVS is discontinuing sales of low margin tobacco products (less than 2% of their gross revenue) so that they can begin offering higher margin health services (in store clinics). Projected revenue lost from tobacco sales in the first year is $2 billion. Projected revenues gained from health services the first year is ... $2 billion.

Tobacco sales are declining and are projected to continue to do so. Demand for health services is rising and are projected to continue to do so.

Smart long term business move on CVS’s part ...


11 posted on 02/05/2014 8:15:26 AM PST by tanknetter
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To: Red in Blue PA
This will help CVS's Marijuana sales.

Would like to know the increase in Marijuana prescriptions.

I have a hangnail...I believe Marijuana will eleveate the pain.

12 posted on 02/05/2014 8:17:06 AM PST by Sacajaweau
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To: tanknetter
Smart long term business move on CVS’s part ...

If that is the case, why is the stock down almost 4 times what he market is (in terms of percentage loss)?

Mr. Market doesn't seem to think it is such a great thing.
13 posted on 02/05/2014 8:17:33 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

And what portion of that margin is claimed by the retailer (as opposed to the manufacturer, distributor, wholesaler, etc?)


14 posted on 02/05/2014 8:17:47 AM PST by tanknetter
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To: tanknetter

A doc in every CVS. You can get different shots in our local store.


15 posted on 02/05/2014 8:18:26 AM PST by Sacajaweau
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To: Red in Blue PA

If you were still paying attention to the other thread you were very active on before starting this one, I explained the reasons ...


16 posted on 02/05/2014 8:19:35 AM PST by tanknetter
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To: Red in Blue PA
Anything obozo touts is not a good thing.

Two years ago, I won the second place prize in an office March Madness brackets pool by just picking the opposite of whatever BO picked. You'll notice that BO has never publicized his bracket picks since.

17 posted on 02/05/2014 8:19:37 AM PST by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: Red in Blue PA

Building them bigger...with an office for Planned Parenthood?


18 posted on 02/05/2014 8:19:45 AM PST by Sacajaweau
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To: Red in Blue PA

I’m going to start running out of businesses who aren’t in my boycott list if this keeps going on.


19 posted on 02/05/2014 8:20:39 AM PST by markomalley (Nothing emboldens the wicked so greatly as the lack of courage on the part of the good -- Leo XIII)
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To: Vigilanteman

He also called for a very close game this pat Superbowl.

Anything he touches turns to crap. I have never seen nor heard anything with which he was successful in predicting.


20 posted on 02/05/2014 8:21:25 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: circlecity

Bingo, they are doing nothing but throwing away business. Also, cigarettes, like milk, are a draw item, getting people in the door who might buy other stuff once they are there.


21 posted on 02/05/2014 8:23:57 AM PST by Boogieman
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To: Red in Blue PA

We get our meds at CVS. Maybe we will switch to Walgreens now.


22 posted on 02/05/2014 8:24:08 AM PST by SoFloFreeper
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To: Red in Blue PA
Obama: CVS Decision to Stop Selling Cigarettes Will Have ‘Profoundly Positive Impact’

Yeah, for Indian Reservations....................

23 posted on 02/05/2014 8:24:36 AM PST by Red Badger (Proud member of the Zeta Omicron Tau Fraternity since 2004...................)
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To: Red in Blue PA

What is “MST’?.................


24 posted on 02/05/2014 8:25:19 AM PST by Red Badger (Proud member of the Zeta Omicron Tau Fraternity since 2004...................)
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To: Sacajaweau

A nurse practioner in every store. Taking paying walk-ins for colds, sore throats, ear infections, pink eye, etc. Then writing prescriptions that can be convieniently filled right there, on site. Maybe even getting kickbacks, er, incentives, for referring tougher cases to designated outside providers.

Again, great business move on their part.


25 posted on 02/05/2014 8:25:45 AM PST by tanknetter
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To: Sacajaweau
I have a hangnail...I believe Marijuana will eleveate the pain.

Yeah, and it might help your spelling, as well..............;^)

26 posted on 02/05/2014 8:26:15 AM PST by Red Badger (Proud member of the Zeta Omicron Tau Fraternity since 2004...................)
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To: tanknetter
Again, great business move on their part.

Obama is that you?

Just because you repeat it does not make it so. The stock is down on this news.....and a greater percentage than the overall market.
27 posted on 02/05/2014 8:31:18 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

C stores will be happy to take their business.


28 posted on 02/05/2014 8:31:36 AM PST by showme_the_Glory (ILLEGAL: prohibited by law. ALIEN: Owing political allegiance to another country or government)
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To: Red Badger

I knew it didn’t look right...


29 posted on 02/05/2014 8:32:54 AM PST by Sacajaweau
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To: Red Badger

I **believe** it stands for moist smokeless tobacco.


30 posted on 02/05/2014 8:33:22 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

Post 93, in the other thread.


31 posted on 02/05/2014 8:34:17 AM PST by tanknetter
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To: Red in Blue PA

Not to worry, CVS is just making room for their medical marijuana displays.


32 posted on 02/05/2014 8:34:58 AM PST by DJ Taylor (Once again our country is at war, and once again the Democrats have sided with our enemy.)
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To: Vigilanteman

BTW, IIRC, he said during the O’Reilly interview the Superbowl would be close.


33 posted on 02/05/2014 8:35:05 AM PST by PghBaldy (12/14 - 930am -rampage begins... 12/15 - 1030am - Obama's advance team scouts photo-op locations.)
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To: Red in Blue PA
Every thing obama says is false, just like his father.
34 posted on 02/05/2014 8:43:04 AM PST by right way right (America has embraced the suck of Freedumb.)
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To: PghBaldy
Performance of CVS versus DJIA since the decision came out this morning:
35 posted on 02/05/2014 8:43:19 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

Instead they’ll sell “medical” marijuana...


36 posted on 02/05/2014 8:45:35 AM PST by DouglasKC
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To: tanknetter; Red in Blue PA
And what portion of that margin is claimed by the retailer (as opposed to the manufacturer, distributor, wholesaler, etc?)

The various levels of government collect more in taxes than the above named combined.

37 posted on 02/05/2014 8:48:31 AM PST by Gabz (Democrats for Voldemort.)
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To: Red in Blue PA

I never understood why pharmacies sold cigarettes. Besides the obvious health conflict cigarettes are very low margin and high theft items. The space and investment could have better return in other products. I think its mostly being done because of tradition and not profit.


38 posted on 02/05/2014 8:55:21 AM PST by Raycpa
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To: Red in Blue PA

CVS won’t be selling cigs but will soon be selling prescription Mary Jo Juana! Oooh! The travesty of second hand doobie smoke!


39 posted on 02/05/2014 8:57:25 AM PST by Bushbacker1 (Molon Labe! (Oathkeeper))
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To: Raycpa

My research says cigs are 13% profit margin for stores. So not trivial by any means. And 40% of convenience store (not pharmacy) gross sales are tobacco.


40 posted on 02/05/2014 8:57:43 AM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: Red in Blue PA

Wondering, once they get everyone to quit smoking and buying cigs, where will the (HUGE amount) tax money come from?


41 posted on 02/05/2014 8:59:22 AM PST by Bushbacker1 (Molon Labe! (Oathkeeper))
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To: nascarnation

Health and beauty aides are 40-50. Prescriptions are 100 or more. The cost to carry all brands has risen dramatically since tax increases. The theft is high on these items. At best they create traffic for other sales.


42 posted on 02/05/2014 9:01:28 AM PST by Raycpa
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To: Bushbacker1

You have to ask? LOL....


43 posted on 02/05/2014 9:01:41 AM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: tanknetter
?
44 posted on 02/05/2014 9:02:48 AM PST by Bushbacker1 (Molon Labe! (Oathkeeper))
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To: Raycpa

Dumb question...I don’t know of anyplace that has tobacco anywhere but right at the checkout. Why is thief so high?


45 posted on 02/05/2014 9:03:03 AM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: Red in Blue PA

I’ve always thought it was ridiculous that drugstores, which are supposedly trying to make people healthier, sold cigarettes.


46 posted on 02/05/2014 9:05:10 AM PST by grundle
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To: circlecity
I think I bought cigarettes at CVS two or three times my entire life. Most people I know get them at the gas station or convenience store. I don't think CVS will miss selling tobacco.
47 posted on 02/05/2014 9:05:53 AM PST by peeps36 (I'm Not A Racist, I Hate Douchebags of All Colors)
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To: nascarnation

Employees


48 posted on 02/05/2014 9:20:16 AM PST by Raycpa
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To: tanknetter

“Ok, to recap from the other thread: CVS is discontinuing sales of low margin tobacco products (less than 2% of their gross revenue) so that they can begin offering higher margin health services (in store clinics). Projected revenue lost from tobacco sales in the first year is $2 billion. Projected revenues gained from health services the first year is ... $2 billion.”

What does one have to do with the other? Are the new CVS health services going to be installed in the cigarette rack behind the counter?

It’s a crock of crap publicity stunt to say “we’re thinking of you so no more smokes”.


49 posted on 02/05/2014 9:25:47 AM PST by Rebelbase (Tagline: optional, printed after your name on post)
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To: Bushbacker1

LOL.

Actually, the word that comes to mind is “daytrader.”


50 posted on 02/05/2014 9:25:50 AM PST by tanknetter
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