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Us Cigarette Brands

All articles tagged with #us cigarette brands

business2 years ago•2 min saved

"BAT's $31.5B Writedown Signals Grim Future for US Tobacco Brands"

British American Tobacco (BAT) announced a $31.5 billion writedown as it acknowledges that its US cigarette brands have no long-term future due to stricter regulations and declining cigarette volumes. BAT's shares fell, and US-listed tobacco stocks were also impacted. The writedown marks the first time a major global tobacco firm has written off the value of its traditional cigarettes business in a major market like the US, highlighting the need for the industry to focus on alternatives. BAT plans to generate 50% of its revenues from non-combustibles by 2035 and expects its business from "new categories" to break even in 2023.

via New York Post |

#british-american-tobacco #business #smoking-alternatives

business2 years ago•2 min saved

"British American Tobacco Takes $31.5 Billion Hit on US Cigarette Brands"

British American Tobacco (BAT) announced a write-down of approximately $31.5 billion from the value of its U.S. cigarette brands, acknowledging the lack of a long-term future for its traditional market. BAT cited stricter regulations, health risks, economic challenges, and the rise of illicit disposable vapes as factors contributing to declining cigarette volumes. The company plans to adjust the treatment of some U.S. brands on its balance sheet, shifting their value to a finite lifetime of 30 years. BAT's shares fell over 8%, and it became the first major cigarette player to acknowledge the expiry date of its tobacco brands' value. BAT also set a new goal to generate 50% of its revenues from non-combustibles by 2025.

via Reuters|

#british-american-tobacco #business #declining-cigarette-volumes