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The Boston Globe

Business

CVS takes a stand, halts tobacco sales

CVS Caremark on Wednesday announced it would stop selling cigarettes in its stores, winning praise from health advocates, lawmakers, and the nation’s former smoker-in-chief, even though the move is expected to have much greater symbolic impact than practical effect.

Even as President Obama and public health officials called on other pharmacy chains to follow CVS, analysts noted that tobacco products are a small and shrinking share of sales for the Woonsocket, R.I., company and its competitors. Tobacco sales represent less than 2 percent of CVS Caremark Corp.'s annual revenues, and are likely to decline further as more communities across the country ban tobacco sales in drug stores.

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