CVS gaining customers with tobacco policy
By Jonathan Berr, MoneyWatch
Consumers hold CVS Health in higher esteem than ever in the wake of the second-largest drugstore chain’s decision to quit selling tobacco products. CVS says that decision will cost it $2 billion in annual revenue.
CVS has three outlets on the South Shore of Lake Tahoe.
According to the weekly YouGov BrandIndex survey of 4,300 people, 13 percent of likely shoppers indicated that they would consider shopping at CVS the next time they plan to visit a drugstore. That’s up from 9 percent earlier this year, although it lags the 15 percent rating of Walgreen, the top drugstore operator. No. 3 player Rite Aid trailed both companies with 7 percent.
When the no-cigarettes news first broke in February, CVS’ perception scores equaled Walgreen’s for 10 days, according to YouGov BrandIndex.