CVS Pharmacy Sacrifices $2 Billion for Social Responsibility

CVS Pharmacy has announced that they will be removing tobacco products from shelves starting in October. CVS estimates a $2 billion decrease in revenue due to this bold decision. Why would a company sacrifice billions of dollars? CVS believes that selling tobacco products does not fit their future image. They are positioning the company to be an alternative to a health clinic; the company believes that selling tobacco products is highly contradictory to that goal. CVS expects this action will pressure its rivals into following suit by discontinuing the sale of tobacco products. What is your opinion? Is it smart business to limit product sales that contradict the core values of a company?

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