CVS is changing its name, no longer selling tobacco - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

CVS is changing its name, no longer selling tobacco

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In addition to changing its name, CVS has decided to stop selling tobacco products. (Source: CNN) In addition to changing its name, CVS has decided to stop selling tobacco products. (Source: CNN)

(CNN) – CVS Caremark will no longer sell tobacco products in its stores beginning Wednesday. That's nearly a month ahead of the previously targeted date of Oct. 1.

The rebranding also comes with a new name, CVS Health. Retail stores will still be called CVS Pharmacy.

In a video statement on the company website, CEO Larry Merlo said by eliminated the sale of cigarettes and tobacco products, “we can make a difference in the health of all Americans.”

In addition, CVS is also launching a campaign and program to help smokers quit.

The company has estimated the move could cost the chain about $2 billion in annual sales. But that's a fraction of its revenue, which totaled $126 billion in 2013.

Much of the revenue comes from healthcare services such as walk-in clinics and prescription drug coverage.

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