CVS Health Corp celebrated the one-year anniversary of its tobacco ban by releasing a study on Thursday conducted by the CVS Health Research Institute it says shows the impact of its effort. According to the research, there was an additional 1% reduction in the sale of cigarette packs at gas stations, convenience stores, big box stores, and other retailers in states where CVS had a 15% or greater share of the retail pharmacy market compared with states where there are no CVS pharmacies. The study examined the eight months after CVS stopped selling cigarettes. The research also found 4% more nicotine patch purchases in those states where CVS has 15% or greater market share. The company and its foundation have now partnered with the children's publishing company Scholastic on a program to teach children about the dangers and consequences of smoking. CVS' efforts have come at a price. The company reported a 7.4% increase in net revenue for the three months ended June 30 and a .5% increase in same-store sales, but says same-store sales would've been 780 basis points higher if tobacco were excluded from the numbers for the same period in 2014.
Copyright © 2015 MarketWatch, Inc.