TheStreet’s Action Alerts PLUS Co-Portfolio manager Jim Cramer applauds CVS Caremark’s decision to stop selling tobacco product but he thinks some CVS store traffic will go to Rite-Aid. Rite-Aid has reported good quarters lately and they are moving into private label, and Cramer is a fan of the stock. Tobacco does not have good gross margins but it’s known as a loss leader. Cramer says Walgreens and Dollar General are other names to look at unless they also decide to kick the habit and ditch tobacco.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
