{"id":2929,"date":"2015-02-15T03:06:01","date_gmt":"2015-02-15T03:06:01","guid":{"rendered":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=2929"},"modified":"2015-02-15T03:06:01","modified_gmt":"2015-02-15T03:06:01","slug":"cvs-revenues-soaring-despite-ban-on-tobacco-sales","status":"publish","type":"post","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=2929","title":{"rendered":"CVS revenues soaring — despite ban on tobacco sales"},"content":{"rendered":"

\"CVS-Pharmacy-01\"<\/a><\/p>\n

This is an awesome story.<\/p>\n

When CVS Pharmacies cut out tobacco sales, everyone fully expected the company’s revenues to drop, including CVS. Instead, the opposite has happened.<\/p>\n

In the fourth quarter of 2014, the first full financial quarter after CVS banned tobacco sales, the company’s revenues didn’t go down, they went up 12.9 percent to a record $37.1 billion.<\/a><\/p>\n

Apparently, one of the reasons for the increase in revenues was the Affordable Care Act.<\/p>\n

From this Forbes article:<\/p>\n

CVS, which stopped selling cigarettes and related products in September, previously generated an estimated $2 billion in annual tobacco sales. But sales in the pharmacy segment alone in the fourth quarter jumped 21.7 percent to $24 billion buoyed by an early flu season with an ineffective vaccine that caused flu victims to search CVS for other treatment options. CVS also saw increased paying customers under the Affordable Care Act.<\/p>\n

The newly insured Obamacare customers and increased drug sales helped overcome a dip in revenue from the front-end of the store where customers used to buy cigarettes and other tobacco products.<\/p><\/blockquote>\n

Also from the Forbes article:<\/p>\n

The end of tobacco sales has improved the company\u2019s image and helps in discussions attracting employers to its pharmacy networks and its prescription management business. In the fourth quarter, pharmacy benefit management sales were up 21.7 percent to nearly $24 billion.<\/p>\n

The CVS decision has also put pressure on other retailers like Walgreens Boots Alliance (WBA) and Wal-Mart (WMT).\u00a0\u201cIt\u2019s opening up some doors to some unique opportunities,\u201d CVS CWO Larry Merlo told analysts.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

This is an awesome story. When CVS Pharmacies cut out tobacco sales, everyone fully expected the company’s revenues to drop, including CVS. Instead, the opposite has happened. In the fourth quarter of 2014, the first full financial quarter after CVS banned tobacco sales, the company’s revenues didn’t go down, they went up 12.9 percent to … Continue reading CVS revenues soaring — despite ban on tobacco sales<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":2930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[223],"tags":[631],"class_list":["post-2929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cvs-pharmacy","tag-cvs-pharmacy"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2015\/02\/CVS-Pharmacy-01.jpg?fit=1000%2C649&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4hpEa-Lf","jetpack-related-posts":[{"id":1886,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=1886","url_meta":{"origin":2929,"position":0},"title":"CVS Pharmacies to ban cigarette sales, other tobacco products","author":"Pepe Lepew","date":"February 6, 2014","format":false,"excerpt":"In the words of Joe Biden ... this is a big fucking deal. , the second biggest drug store chain in the country, will no longer sell any tobacco products in its 7,600 stores across the country. This means CVS will lose $2 billion a year in sales revenues ...\u2026","rel":"","context":"In "cigarettes"","block_context":{"text":"cigarettes","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?cat=18"},"img":{"alt_text":"CVS","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2014\/02\/CVS.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":2411,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=2411","url_meta":{"origin":2929,"position":1},"title":"CVS pulls all tobacco products, changes name","author":"Pepe Lepew","date":"September 5, 2014","format":false,"excerpt":"As the company announced a few months ago, CVS went ahead this week and pulled all tobacco products off its shelves -- and changed its name to CVS Health in conjunction with this move. However, CVS, the second largest drug store company in the U.S., made the decision more quickly\u2026","rel":"","context":"In "CVS Pharmacy"","block_context":{"text":"CVS Pharmacy","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?cat=223"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2014\/09\/lockup_fnalv6.png?fit=1000%2C1005&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2014\/09\/lockup_fnalv6.png?fit=1000%2C1005&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2014\/09\/lockup_fnalv6.png?fit=1000%2C1005&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2014\/09\/lockup_fnalv6.png?fit=1000%2C1005&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3531,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=3531","url_meta":{"origin":2929,"position":2},"title":"Philadelphia proposes banning tobacco sales in drug stores","author":"Pepe Lepew","date":"October 17, 2015","format":false,"excerpt":"The mayor of\u00a0Philadelphia last week proposed banning tobacco sales in pharmacies and drug stores. This story jogged my memory that I think San Francisco did the same thing. Sure enough, San Francisco did ban tobacco sales in pharmacies, in fact some time ago -- 2008 -- longer ago than I\u2026","rel":"","context":"In "CVS Pharmacy"","block_context":{"text":"CVS Pharmacy","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?cat=223"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2015\/10\/Philadelphia.jpg?fit=780%2C438&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2015\/10\/Philadelphia.jpg?fit=780%2C438&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2015\/10\/Philadelphia.jpg?fit=780%2C438&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2015\/10\/Philadelphia.jpg?fit=780%2C438&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3482,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=3482","url_meta":{"origin":2929,"position":3},"title":"CVS bailing on tobacco sales results in impressive drop in cigarette sales overall","author":"Pepe Lepew","date":"September 4, 2015","format":false,"excerpt":"Very interesting story. CVS Pharmacies about a year ago announced it would no longer be selling any tobacco products. It's just one drug store chain, right? No big deal, right? Well, it turns out that decision resulted in a 1 percent reduction in cigarette sales in 13 states ... that's\u2026","rel":"","context":"In "CVS Pharmacy"","block_context":{"text":"CVS Pharmacy","link":"https:\/\/pepesnonsmokingpartytimelounge.com\/?cat=223"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2015\/09\/cvs-no-smoke.jpg?fit=620%2C348&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2015\/09\/cvs-no-smoke.jpg?fit=620%2C348&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/pepesnonsmokingpartytimelounge.com\/wp-content\/uploads\/2015\/09\/cvs-no-smoke.jpg?fit=620%2C348&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":1894,"url":"https:\/\/pepesnonsmokingpartytimelounge.com\/?p=1894","url_meta":{"origin":2929,"position":4},"title":"Response to CVS Pharmacies ban on tobacco: Tom Brokaw intelligent, Fox News …. blathering idiots","author":"Pepe Lepew","date":"February 7, 2014","format":false,"excerpt":"Shaking my head at this one. The Mensa crowd at Fox News blew a gasket when CVS Pharmacies announced it would not longer be selling tobacco products. 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