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Nielsen's tracking data indicates that the cigarette industry's volume decreased by 11.2% over the 4-week period ending May 18, marking a slowdown from the 12-week pace – 9.5%, according to Wells Fargo.
Cigarette sales dollars decreased by 6.9% for the 4-week period.
Looking ahead, Bonnie Herzog, a Wells analyst, expects reported cigarette shipment volumes to be stronger than expected in the second quarter, as the sharp reversal in the first quarter was reversed. For 2019, WF still expects a decline in the cigarette industry volume of about 6.0%.
Related actions: Altria (MO -4.3%), Philip Morris International (PM) -3.7%), British American Tobacco (BTI -4%), Vector Group (VGR) -2.5%), Imperial Brands (OTCQX: IMBBY -3.5%).
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