Philip Morris cigarettes shipments down 5 % | RetailDetail

Philip Morris cigarettes shipments down 5 %

Philip Morris cigarettes shipments down 5 %

Philip Morris has shipped 880.2 billion cigarettes in 2013, which is 5 % less than what it managed to ship in 2012. The drop, from 927 billion cigarettes, was mainly because of higher duties in Europe and Asia.

Higher duties

Aside from higher duties, Philip Morris had to fight illegal trade in Turkey, Russia and Ukraine, and struggled with a weaker Russian economy. Sales in the United States also dropped, not only because of social stigma, but also because of higher consumer awareness regarding the risks. The fact that CVS has also decided to eliminate smoking-related products from October onwards, will probably also impact the 2014 numbers.

 

Exchange rate fluctuations caused the 2013 turnover (31.5 billion dollars, some 23.2 billion euro) to drop 0.5 % compared to 2012. Had the exchange rates remained stable, turnover would have increased 2 %, the exact same number the operational profit dropped to 13.5 billion dollars (9.94 billion euro).

Questions or comments? Please feel free to contact the editors


“Urgent action needed against territorial supply constraints”

23/05/2018

(content provided by EuroCommerce) Speaking to mark the launch of the Benelux study on territorial supply constraints, EuroCommerce Director-General Christian Verschueren argued for the EU to act on big brands’ fragmentation of the European market.

Action owner 3i wants to keep chain after all

22/05/2018

Investor 3i wants to keep a hold of Action after all. Even though the owner made it seem like it was looking for a buyer, 3i now denies it.

Action owner wants to sell stake

18/05/2018

Action’s owner, investment firm 3i, aims to sell a part of the discount store chain next year. The Brits would want to sell a 35 % stake in the firm.

Belgian fund close to HEMA acquisition

09/05/2018

Belgian Core Equity holding is allegedly close to acquiring Dutch chain HEMA: a verbal agreement is apparently in place, all that is required are the signatures.

Walmart, not Amazon, will acquire Indian market leader Flipkart

07/05/2018

Despite Amazon’s attractive offer, Indian online retailer Flipkart has chosen for Walmart and (remarkably), Google owner Alphabet as the new owners of 75 % of Flipkart’s shares. The deal is said to be worth 15 billion dollar.

Alibaba's growth exceeds expectations

07/05/2018

Chinese retail group Alibaba has published better-than-expected quarterly results: turnover went through the roof, but its profit is under pressure because of increased investments.