Walgreens Tobacco sales under “true scrutiny,” says new CEO Roz Brew

Texas News Today

On Tuesday, April 13, 2021, a man breaks into a Walgreens store in San Francisco, California, United States.

David Paul Morris | Bloomberg | Getty Images

Walgreens Boots Alliance CEO Rose Brewer said drugstores are carefully considering whether to continue selling tobacco and tobacco products as they shift their focus to healthcare.

“We’re wondering what’s next in our stores,” she said in an interview with CNBC’s Bertha Combs, which aired Thursday. “And how do we actually present a healthy profile to you when you enter our store? Tobacco is one of the areas that’s really being investigated right now. Will see more to come.”

Walgreens exceeded Wall Street’s expectations for Thursday’s fourth-quarter earnings as it grew from a Covid-19 vaccination. Three-month sales reflect the strength of health and wellness-related products such as home COVID tests, vitamins, cough, cold, and over-the-counter flu medications.

Compared to retail sales in the fourth quarter increased 6.2% year-over-year. This increased to 7.2% if the company excluded cigarette and e-cigarette sales.

For years, Walgreens has been under the watchful eye of some investors and public health officials for selling its products. Walgreens has reduced its tobacco-related products, including suspending the sale of e-cigarettes. It raised the tobacco purchase age to 21 in 2019 after the Food and Drug Administration claimed that drugstore chains were selling to minors.

Still, its major competitors have already taken the cigarette off the shelves. CVS Health stopped selling tobacco and related products in 2014 because it was inconsistent with its healthcare mission.

The FDA is taking a tougher stance on e-cigarettes, especially in candy, fruity and mint-like flavors, over concerns that vaping will increase tobacco use among teens. Growth. Earlier this week, it approved the sale of e-cigarette brands in the United States, saying it could benefit some adult smokers in switching products. However, some of the company’s flavored products were not approved.

Source link Walgreens Tobacco Sales under “true scrutiny”, says new CEO Roz Brew

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