• 149
  • 16
  • Favorite

Tobacco Stocks Slip on Report Walmart Removing Cigarettes

Tiger Newspress2022-03-28

Tobacco stocks dipped after the Wall Street Journal said Walmart Inc. is ending sales of cigarettes in some stores, prompting concern other retailers may do the same.

Altria Group Inc., which sells Marlboro cigarettes in the U.S., dropped 3.2% in morning trading.British American Tobacco Plc fell 1.7% higher. Imperial Brands Plc, the maker of Kool cigarettes, fell 0.4%, trimming earlier gains.

Walmart is exiting cigarettes in some stores in states such as California, Florida and Arkansas after an internal debate at the retailer, the newspaper said, citing people close to the situation it didn’t name. In some shops, the cigarette shelves are being replaced with more self-checkout registers and candy offers.

The newspaper cited a spokeswoman saying Walmart has no plans to stop all cigarette sales, and that the moves are related to using space more efficiently.

The retailer made its policy on selling guns and ammunition stricter in previous years.

Walmart isn’t the first retailer to stop cigarettes sales. Target did so in 1996.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment16

  • CCLim
    ·2022-03-29
    Noted
    Reply
    Report
  • Wtt
    ·2022-03-29
    O
    Reply
    Report
  • Ccchia
    ·2022-03-29
    Good 
    Reply
    Report
  • Syww
    ·2022-03-29
    [Strong] 
    Reply
    Report
  • Vincent1968
    ·2022-03-29
    [Sad] [Sad] 
    Reply
    Report
  • claratan
    ·2022-03-29
    Wow 
    Reply
    Report
  • Lulup
    ·2022-03-29
    ok
    Reply
    Report
  • Bull1973
    ·2022-03-29
    Ok
    Reply
    Report
  • Success88
    ·2022-03-29
    Okie and thank 
    Reply
    Report
  • CubTrader
    ·2022-03-29
    Ok
    Reply
    Report
  • Zivcheah
    ·2022-03-29
    O
    Reply
    Report
  • KSeow
    ·2022-03-29
    👍
    Reply
    Report
  • Kucing
    ·2022-03-29
    Good or bad 
    Reply
    Report
  • N00b
    ·2022-03-28
    Good la. Smoking 🚬 is bad for health anyway. Like pls
    Reply
    Report
  • Phyusin
    ·2022-03-28
    Wow
    Reply
    Report
  • szueyann
    ·2022-03-28
    Like
    Reply
    Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial