RICHMOND, Va. -- Despite declining demand for its core, smokeable tobacco products, major manufacturer Altria has outlined a four-point plan for maintaining profitability, according to investment-research resource Seeking Alpha.
Despite demonstrating returns three times higher than the broader market over the past seven years, Richmond, Va.-based Altria faces declining demand for tobacco products overall, and a significant drop in demand among young consumers, said the report from New York-based Seeking Alpha.
The firm reported that Altria’s Philip Morris USA business suffered a 5% drop in cigarette-shipment volumes during its second-quarter this past summer, which drove a 2.4% drop in revenue from smokeable products that quarter.
Despite the declines, Altria has outlined a four-point plan to grow profitability going forward. Here are those steps …