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Cigarette maker Lorillard Inc.'s largest competitors — Altria Group Inc. and Reynolds American Inc. — are ramping up efforts to grab some of the menthol market from Lorillard's leading Newport brand.
Tobacco sales and volumes fell in the first half of the year as a federal tax increase took effect, but they rebounded some during the second quarter as retailers went back to ordering cigarettes and consumers adjusted to higher prices.
The Marlboro Man roped in a larger portion of the cigarette market even as smokers bought fewer of Altria Group Inc.'s cigarettes in the third quarter.
Altria Group Inc. reports its third-quarter results on Wednesday. The following is a summary of key developments and analyst opinion related to the period.
Altria Group Inc., owner of Philip Morris USA, on Thursday boosted its regular quarterly dividend by 2 cents to 34 cents.
New federal legislation allowing the U.S. Food and Drug Administration to reduce nicotine in tobacco products, ban candy flavorings and block labels such "low tar" and "light" is expected to hurt Philip Morris USA least among tobacco companies because tighter regulations could cement its position as market leader.
Even though Americans bought fewer cigarettes in the second quarter, profit rose 9 percent at Altria Group Inc., owner of the nation's biggest cigarette maker, Philip Morris USA, as the company cut costs and integrated a recently acquired smokeless tobacco maker.
Altria Group Inc. reports its second-quarter results on Wednesday. The following is a summary of key developments and analyst opinion related to the period.
A federal jury has rejected a $24 million tax refund claim filed by tobacco company Altria Group Inc.
Altria Group Inc. said on Friday that Murray S. Kessler, chief executive of the smokeless tobacco company UST Inc., will leave the company at the end of June after overseeing key elements of UST's integration into Altria.
Altria Group Inc., the nation's largest tobacco maker, told its shareholders Tuesday that recent acquisitions and a focus on the growing area of smokeless products put it in a strong position for long-term growth.
At its first shareholder meeting since the spinoff from Altria Group Inc., Philip Morris International Inc. said new products in its key brands like Marlboro will help grow cigarette sales overseas, its core market.
Cigarette sales dropped 8 percent and profit slipped at the nation's largest tobacco maker, Altria Group Inc., as retailers and wholesalers cut their orders ahead of a one-time federal tax on their inventory, but the company's overall revenue rose in the first quarter.
Altria Group Inc. reports first-quarter results on Wednesday. The following is a summary of key developments and analyst opinion related to the period.
Smokeless tobacco company UST Inc. has finished moving its operations from Connecticut to Richmond, where its new parent company, Altria Group Inc., is based.
Even in times like these, cigarette makers can raise prices and many customers will still buy them.
Altria Group, the owner of the nation's biggest cigarette maker, confirmed on Tuesday that it has started to cut jobs because of the widespread economic turmoil.
Altria Group Inc., which owns the No. 1 U.S. cigarette maker Philip Morris USA, reported that profit fell 67 percent from a year ago, when results included its overseas operations. But earnings from continuing operations rose 15 percent.
Altria Group demonstrated the pricing power tobacco makers possess as interest in cigarettes dropped off further, and said Thursday that its buyout of smokeless tobacco maker UST positions it for long-term growth amid the widespread financial turmoil.
Altria Group Inc., owner of Philip Morris USA, plans to buy UST Inc., the maker of Skoal and Copenhagen, for $10.4 billion to boost its ability to sell smokeless tobacco products.
Altria, the U.S. leader in cigarettes, wants to be No. 1 in smokeless products too.
Altria Group, the owner of tobacco company Philip Morris USA, said Thursday that its second-quarter profit fell 58 percent from a year earlier because it spun off its international unit.
Altria Group is reiterating its interest in growing its business in other tobacco categories as domestic cigarette sales continue to decline.
Bank of America Corp. and Chevron Corp. will replace tobacco company Altria Group Inc. and manufacturer Honeywell International Inc. in the Dow Jones industrial average, giving the stock market's best-known indicator bigger slices of the banking and energy sectors.
Altria Group said Wednesday it would spin off its international tobacco business on March 28, freeing it to pursue cigarette sales more aggressively outside the U.S. by separating it from its American counterpart.
The PR Strategy Behind Blackwater's Name ChangeAfter years of bad press over no-bid contracts and massacres of Iraqi civilians, the private military contractor Blackwater Worldwide has changed its name to the cryptic "Xe" (pronounced "Zee").
ABC News: High Court Tosses Philip Morris VerdictWASHINGTON Feb 20, 2007 (AP)— The Supreme Court threw out a $79.5 million award that a jury had ordered a cigarette maker to pay to a smoker's widow, a ruling that could bode well for other businesses seeking stricter limits on big-dollar verdicts.
Tobacco's Stigma Aside, Wall Street Finds a Lot to LikeDespite regulations and legal settlements, investors seem to believe the future of cigarettes is brighter than ever.
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