Reynolds' R.J. Reynolds Tobacco Co. division notified wholesalers yesterday it will charge eight cents a pack more for top-selling Camel, Kool, Winston, Salem and Pall Mall, David Howard, a company spokesperson, told the news agency. Distributors' list prices for Camel Non-Filter, Capri, Carlton, Eclipse, Lucky Strike, More, Now, Tareyton and Vantage will increase by 33 cents a pack, he [image-nocss] added.
The increases take effect May 12, two days after an eight-cent- a-pack increase by Altria Group Inc.'s Philip Morris USA, the largest U.S. producer, the report said. (Click here for previous CSP Daily News coverage.)
Winston-Salem, N.C.-based Reynolds boosted its share of U.S. smokers by 0.2 percentage point to 27.9% last quarter, said the report, helped by Pall Mall sales.
The company would not explain why it is raising cigarette prices or disclose their average retail prices, Howard said. The increases cover more than 20 brands and varieties, he said.
In note to investors, UBS Investment Research analyst Nik Modi said, "We expect Lorillard to increase prices as well."
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