Tobacco giant Philip Morris International said Thursday sales of its smokeless electronic cigarettes were one of its fastest-growing segments during the second quarter as sales of traditional cigarettes declined. The company sold 157 billion packs of cigarettes during the quarter, falling by 0.4% from the same time last year, versus a 26.6% jump in sales of heated tobacco units to 31.4 billion. [...] In the U.S., the company saw shipments for its nicotine pouch brand Zyn jump 53.1% over last year to 89.9 million cans. As of Thursday morning, Philip Morris' stock was up by less than 1%.
July 21, 2023 by themessenger.com