Wednesday, July 30, 2014

Lorillard e-cigarette sales slip as competition rises

Advertisement for the e-cigarette brand blu is seen on window of a store in New York Lorillard Inc. on Wednesday reported significant declines in its electronic cigarettes sales, raising questions about the strength of the nascent market. Sales of its electronic devices dropped 35 percent to $37 million for the second quarter ended June 30, 2014 compared to $57 million for the same period last year. Lorillard blamed much of the decline on greater competition from rivals Altria Group Inc and Reynolds American Inc, which are rolling out this summer their own e-cigarettes brands - Vuse and MarkTen - nationwide. "The eCig category possesses none of the wide moat characteristics of cigarettes, and we are concerned that today's market leader could be usurped by one of the emerging technologies," said Morningstar analyst Philip Gorham.








via Health News Headlines - Yahoo News http://ift.tt/1AzhIwA

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