The Call for Retailers to Quit Tobacco Intensifies

Your next video will start in

Recommended Videos

  • Info

  • Comments


March 17 (Bloomberg) -- Bloomberg's Olivia Sterns reports on the call for retailers to quit tobacco. She speaks with Mark Crumpton on Bloomberg Television's "Bottom Line." (Source: Bloomberg)

Who did they reach out to?

How likely are these folks going to comply?

Now they are not just going after pharmacies, they're going after major discounters and grocery stores.

It is also writing and walgreen -- it is an interesting move.

It is not legally binding.

It is pretty rare for an attorney general to reach out to retailers and ask them to stop selling a product that is in fact legal.

They're asking to voluntarily do this.

That is with cvs already did.

Nobody thought it would be a huge deal.

He thinks it would cost walgreens about $1.5 billion, which is how much he thinks it would cost cvs as well.

For rite aid he thinks it is more like $500 million.

Across the board he thinks it is two percent of sales.

The key is they have to wait to figure out how much of an impact this has had a before it is clear which other stores would actually go along with this.

We mentioned them setting the precedent.

What was the logic behind their ban?

More and more of their business is switching to provider health care.

There are these wellness in-store clinics.

The ceo of cvs said it is fundamentally incompatible with our mission as a provider of health care services to be selling products that can kill you.

Analysts want to wait and see how big of a hit it has taken.

Potentially pharmacies could make even more money if they are able to figure out a way to take that shelf space from behind the counter.

Cigarettes are at a very lord -- very low margin.

In that case it could be a tailwind.

Olivia sterns, thank you so much.

Coming up, frank sorrentino, the

This text has been automatically generated. It may not be 100% accurate.


BTV Channel Finder


ZIP is required for U.S. locations

Bloomberg Television in   change