The Marlboro maker said domestic cigarette shipment volume fell 11.6%, primarily driven by industry declines and competition from illicit e-vapor products.
Altria Group reported third-quarter results Thursday that fell short of Wall Street's expectations as demand for its core cigarette business cools and illicit e-vapor products flood the market.The Marlboro maker said its domestic cigarette shipment volume decreased 11.6%, primarily driven by wider declines across the industry and competition from illicit e-vapor products, among other factors.
The Marlboro maker said its domestic cigarette shipment volume decreased 11.6%, primarily driven by wider declines across the industry and competition from illicit e-vapor products, among other factors.An increase in harassment against Jewish and Muslim Americans has been reported since Hamas attacks
Although federal crackdowns have placed more restrictions on the flavors and marketing for tobacco products, illicit operators are skirting many tobacco-related laws and areIn June, Altria completed its acquisition of NJOY's e-vapor product portfolio for approximately $2.75 billion. The deal included the product NJOY ACE, the only pod-based vape cleared for the U.S. market by the FDA.
So far this year, Altria has recorded pre-tax charges of $424 million for tobacco litigation, including the settlement of JUUL-related litigation. In May, Altria settled at least 6,000 lawsuits accusing it of fueling a teen vaping epidemic through its former investment in Juul.
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