Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
During Wal-Mart’s recent annual shareholders’ meeting, vice chairman Eduardo Castro-Wright said the retail giant might stop selling tobacco products in its stores, according to Convenience Store News. Why? Selling cigarettes conflicts with Wal-Mart’s healthier, friendlier and greener image, which it has been working hard to cultivate in the past few years.
Ditching cigarettes may be a smart move for another reason too. On April 1st, the federal excise tax increased by 61 cents to $1.01 a pack. The tax is expected to reduce smoking and decrease cigarette sales. Approximately 21% of the adult population or 64 million Americans smoke, according to the most recent data from the Center for Disease Control.
Do you think selling tobacco hurts Wal-Mart’s image? Is it smart strategy to sacrifice potential sales for the sake of corporate image?
How can you manage smarter? Bloomberg Businessweek contributors synthesize insights from the brightest business thinkers, critique the latest management trends, and comment on leaders in the news.