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A clerk(C) stands at the cigarette counter at a CVS drugstore February 5, 2014 in Washington, DC. The second largest US drugstore chain, CVS, announced Wednesday it will stop selling cigarettes by the end of the year, a decision President Barack Obama hailed as a 'powerful example.'CVS said its 7,600 stores across the country will cease tobacco sales by October 1, despite the projected $2 billion loss the move will entail.
Convenience. Value. Service: That's what CVS stands for.
But perhaps they need an "H" in there too. The company says they are trying to become more of a health care provider. To that end, today CVS announced they would stop selling all cigarettes and tobacco products nationwide by October.
For more on what's behind this move we're joined by Timothy Martin of the Wall Street Journal.