Altria Sees ’08 US Industry Cigarette Volumes Down 3%-3.5%

Posted By Staff

Date: August 30th, 2008

Category: Uncategorized

Altria Group Inc. lowered its outlook on U.S. industrywide cigarette volumes for both this year and in the longer term, citing economic conditions, activity to boost cigarette excise taxes and retailer inventories. During a conference call Thursday, Executive Vice President and Chief Financial Officer David Beran said Philip Morris USA Inc. estimates a long-term annual U.S. industry volume declines of 3% to 3.5%, compared with a March view of annual declines of 2.5% to 3%. Over the last five years, the maker of Marlboro, Virginia Slims and other brand-name cigarettes has seen shipment volume decline by an average of 1.8% a year, less than the overall industry. More… Nutty NewsCigarettes America Front Page News
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