The shipment volumes of cigarettes were down about 5% for the 3rd quarter according to Wells Fargo analyst Bonnie Herzog as reported by The American Council of Science and Health. Even with volumes down revenues were up due to rising prices. the volumes were down due to vapor products.
Another typical report comes from RJReynolds, as noted in the Wall Street Journal: “Reynolds American Inc. said cigarette volumes slipped again, but revenue and profit grew thanks in part to higher prices. The results topped analysts’ expectations. Reynolds, like its peers in the tobacco industry, has struggled with diminishing demand for cigarettes and the concurrent growth in the market for electronic cigarettes. The company said Tuesday that it would further expand its own e-cigarette brand, Vuse, to 70,000 retail outlets next week, with more growth planned for early next year.”ACSH’s Dr. Gil Ross had these observations: “The tobacco companies’ harm-reduction shift is a salutary one for America’s public health, since the inhalation of the few chemicals in electronic devices — e-cigs and vapor products — will undoubtedly lead to a marked reduction in “smoking”-related (actually nicotine-related, since e-products have no smoke) disease and death.
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