Why CVS Was Happy To Walk Away From $2B In Revenue

In Conscious Capitalism, Purpose, Mission & Values

In 2014 pharmacy giant CVS changed their name from CVS Caremark to CVS Health. The name change was the smallest of changes they implemented that year. As they rolled out new branding to reflect the new moniker, they were simultaneously removing cigarettes from 7700 stores, never to be sold again. In making this decision, they were choosing to walk away from $2B in revenue. The CEO of CVS took to the business shows on cable news to share why.

In this video we share why this decision matters for your business.

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Barry Chandler is the co-founder of Storyforge, a strategy company focused on helping companies discover their purpose, forging their unique story, building preference and driving margin.

Barry has been building award winning businesses since launching his first company in Ireland in 2003. His last company, a digital marketing agency, was acquired in 2012 by a California-based publicly traded entertainment company which then hired him as Chief Marketing Officer. It is his belief that the greatest brands seek to change the world, improving the lives of their associates, partners, and customers.