TITLE

Tobacco Companies Bump Prices

AUTHOR(S)
Master, Melisa
PUB. DATE
January 2005
SOURCE
Convenience Store News;1/10/2005, Vol. 41 Issue 1, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that retailers will be paying more for cigarettes from Philip Morris and R.J. Reynolds in the new year, due to a combination of increased list prices and reduced discounts. Philip Morris USA, a unit of Altria Group Inc., reduced its" off-invoice" discounts to$ 5.50 a carton from $6.50, effectively raising prices by 10 cents per pack on Marlboro, Virginia Slims, Basic and Parliament cigarettes. R.J. Reynolds Tobacco, a subsidiary of Reynolds American Inc., increased list prices on brands such as unfiltered Camels, Barclay, Lucky Strike and Carlton by$ 3 per thousand, or about 6 cents per pack. The company also raised prices by$ 5 per thousand, or 10 cents per pack, for its Monarch, Best Value and GPC brands. R.J. Reynolds said its actions are a result of higher costs due to the recent federal enactment of tobacco buyout legislation and increased obligations under its Master Settlement Agreement with the states.
ACCESSION #
15665681

 

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