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Walgreens Tobacco Sales Under “True Scrutiny”, Says New CEO Roz Brew

On Tuesday, April 13, 2021, a person enters the Walgreens store in San Francisco, California, USA.

David Paul Morris | Bloomberg | Getty Images

Roz Brewer, CEO of the Walgreens Boots Alliance, said drugstores are carefully considering whether to continue selling tobacco and tobacco products as they step up their focus on healthcare.

“We’re thinking about what’s next in our store,” she said in an interview with CNBC’s Bertha Coombs, which aired Thursday. “And how do we really project a healthy profile for you when you enter our store? Tobacco is one of the areas that is really being scrutinized right now. And you are that You will see more coming in the field. “

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

Compared retail sales in the fourth quarter increased 6.2% year-on-year. If the company excluded the sale of cigarettes and e-cigarettes, it increased to 7.2%.

For years, Walgreens has been under the watchful eye of some investors and public health authorities to sell its products. Walgreens has reduced its tobacco-related products, including the suspension of e-cigarette sales. It also raised the age of tobacco purchases 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 cigarettes 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 stricter stance on e-cigarettes, especially in flavors such as candy, fruit and mint, with concerns that vaporization will lead to increased tobacco use among teens. increase. Earlier this week, it approved the sale of the e-cigarette brand in the United States, saying it could benefit some adult smokers switching products. However, some of the company’s flavor products were not approved.

Walgreens Tobacco Sales Under “True Scrutiny”, Says New CEO Roz Brew

Source link Walgreens Tobacco Sales Under “True Scrutiny”, Says New CEO Roz Brew

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