Big tobacco. esp. Altria is not meeting estimates
Post# of 497
Posted On: 01/30/2016 7:53:17 AM
Big tobacco. esp. Altria is not meeting estimates despite more money in the consumers pockets these days as compared to year earlier. They fight that by measures like layoffs and ecig modification (in a way that does not even improve pleasure; just potential combustion risk) but also "pushing smokeless products, such as chewing tobacco"....no thank you
(Bloomberg Business, Altria Profit Misses Estimates as Cigarette Volumes Decline; Feb 28 2016) Altria Group Inc., the largest seller of tobacco in the U.S., posted fourth-quarter profit that trailed analysts’ estimates after cigarette sales volume declined..............Falling gasoline prices failed to spur smokers to buy more cigarettes during the last quarter of the year, reversing a trend that had bolstered Altria’s results recently. Cigarette sales volumes fell 2.6 percent in the fourth quarter.............Health concerns have long since turned many consumers against Altria’s core product. To fight that tide, the company has pushed smokeless products, such as Skoal and Copenhagen chewing tobacco, and is partnering with Philip Morris to create new products aimed at reducing the risks associated with traditional cigarettes. The companies are working on the iQOS electronic cigarette, which heats tobacco without combustion.
(Bloomberg Business, Altria Profit Misses Estimates as Cigarette Volumes Decline; Feb 28 2016) Altria Group Inc., the largest seller of tobacco in the U.S., posted fourth-quarter profit that trailed analysts’ estimates after cigarette sales volume declined..............Falling gasoline prices failed to spur smokers to buy more cigarettes during the last quarter of the year, reversing a trend that had bolstered Altria’s results recently. Cigarette sales volumes fell 2.6 percent in the fourth quarter.............Health concerns have long since turned many consumers against Altria’s core product. To fight that tide, the company has pushed smokeless products, such as Skoal and Copenhagen chewing tobacco, and is partnering with Philip Morris to create new products aimed at reducing the risks associated with traditional cigarettes. The companies are working on the iQOS electronic cigarette, which heats tobacco without combustion.
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