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Costco phasing out tobacco sales (TheStreet.com, Brian Sozzi)

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Costco is quietly ending their sales of tobacco at their stores, according to TheStreet.com. According to a Costco spokesperson, tobacco is a very low margin business with total business from tobacco being a low-single digit percentage. The spokesperson also shared that tobacco has a higher theft rate and can be labor intensive due to local regulations. Plus, the company wants to better use the space to merchandise other items. Of the 488 Costco locations, 189 sell tobacco.

Read TheStreet.com’s full story.