Walgreens and CVS Are 2019's Stock Market Losers
CNN/Stylemagazine.com Newswire | 3/14/2019, 12:34 p.m.
This has been a brutal year for the big drug store companies. Walgreens' stock is down more than 10% this year, making it the worst performer in the Dow. CVS has been an even bigger dud. Its stock has plunged nearly 15% year-to-date. The broader market is up more than 10% this year. Both chains are facing significant challenges, but for different reasons. Walgreens has been hit by a crackdown from the Food and Drug Administration, which said last week that it was putting the company "on notice" for selling more cigarettes to minors than any other drug store retailer. The FDA now wants to meet with Walgreens to discuss the sale of tobacco and e-cigarettes to teens.