CVS proved that a company can stop selling tobacco and still turn a profit, when they announced an almost 10% increase in revenue since last year.
After barring cigarette sales in September, CVS — which now goes by CVS Health — announced that revenue rose 9.7% from its third quarter earnings in 2013. Its operating profit increased by 4.3%.
The removal of cigarettes did have a negative impact on front-of-the-store sales, the Wall Street Journal reports, but the “strength from the pharmacy business offset” that decline. Pharmacy revenue was up 16%.
More Must-Reads from TIME
- Where Trump 2.0 Will Differ From 1.0
- How Elon Musk Became a Kingmaker
- The Power—And Limits—of Peer Support
- The 100 Must-Read Books of 2024
- Column: If Optimism Feels Ridiculous Now, Try Hope
- The Future of Climate Action Is Trade Policy
- FX’s Say Nothing Is the Must-Watch Political Thriller of 2024
- Merle Bombardieri Is Helping People Make the Baby Decision
Contact us at letters@time.com