CVS ends tobacco product sales ahead of schedule

NEW YORK, NY (WABC) -- CVS, the nation's second largest drugstore chain, has removed all tobacco products from more than 7,600 stores one month ahead of schedule.

And to draw attention to the move, Manhattan's Bryant Park will be home to a 50-foot tall, 6-foot wide extinguishing cigarette. The event, planned for Wednesday at 1:30 p.m., will mark the chain's official launch of a comprehensive smoking cessation campaign.

The chain will also adopt a new corporate name CVS Health, thus promoting a broader health care commitment. Although the store's signage will not change, consumers will notice the changes upon completing their purchases, as the areas behind the registers will from now on be stocked with smoking cessation signage, kits and nicotine replacement products.

"We're doing more and more to extend the front lines of health care," CVS CEO Larry Merlo said, adding that CVS will lose about $2 billion in annual revenue by discontinuing tobacco product sales.

CVS had originally announced an October 1 launch for the phase out, but is implementing their plan earlier thanks to an earlier-than-expected completion of launch planning.

Competitors Walgreen's and Rite Aid will continue their sales of tobacco products.

(The Associated Press contributed to this report)