How Tobacco-Free CVS Is Coping
Non-pharmacy sales dropped 8% in Q2
By Arden Dier,  Newser Staff
Posted Aug 5, 2015 11:24 AM CDT
Smoking cessation products are on display at the front of the CVS drugstore in Midtown Manhattan, Wednesday, June 17, 2015.   (AP Photo/Mary Altaffer)
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(Newser) – CVS banned cigarettes from its stores last fall and last month showed it's sticking to its anti-tobacco stance, believing it's the right thing to do. The company's sales say otherwise. Though CVS' prescription sales climbed 4% in the second quarter, sales outside the pharmacy fell by almost 8%—a drop CVS attributes exclusively to its cigarette ban, reports CNNMoney. The company says it's focusing on health and beauty products, which are gaining market share, but the drug store isn't bleeding. Overall, earnings rose 2% to $1.27 billion while revenue jumped 7% to $37.17 billion, per the AP.

 

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