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Wed February 12, 2014
CVS Stock Rises Ahead Of Lost Tobacco Sales
Originally published on Wed February 12, 2014 5:57 am
STEVE INSKEEP, HOST:
Less than a week after CVS announced its decision to stop selling tobacco products, the company's stock is on the rise. Share prices were up 2.3 percent yesterday, after posting higher-than-expected quarterly profits.
RENEE MONTAGNE, HOST:
CVS reports it processed more prescriptions and benefited from the introduction of new generic drugs last quarter. Company executives say they hope these sales trends offset a predicted drop in revenue. The ubiquitous pharmacy chain projects it will lose $1.5 billion every year from not selling cigarettes. Transcript provided by NPR, Copyright NPR.