CVS and its pharmacy will cease all sales of tobacco products nationwide by Oct. 1, 2014, the company announced Wednesday.
With more than 7,600 stores in the United States, CVS will be the first national pharmacy chain to ban cigarette sales.
"When we asked ourselves where we expect to be in the future as a healthcare company, it became clear that removing tobacco products from our stores was the right thing to do," CVS President and CEO Larry Merlo said in the recorded statement below.

CVS executives told The Washington Post that the move could possibly cost the company "billions of dollars in revenue because cigarettes draw so many customers in their stores."