Camel maker BAT writes down US cigarette brands, tobacco stocks fall

LONDON (Reuters) -British American Tobacco said it would take a hit of around $31.5 billion as it writes down the value of some U.S. cigarette brands, acknowledging on Wednesday that its traditional market has no long term future. BAT's move comes as ever stricter regulation and growing awareness of health risks squeeze tobacco companies' traditional business, driving declines in cigarette volumes in some markets. The maker of Lucky Strike and Dunhill cigarettes also pointed to economic challenges in the U.S., where some inflation-weary consumers are downgrading to cheaper brands, and the rise of illicit disposable vapes putting pressure on its U.S. cigarette division.

BAT Writing Off £25 Billion on US Cigarettes, Shares Fall - Bloomberg

$1billion loss possible for BAT in 2023 on heated cigarettes

BAT Writing Off £25 Billion on US Cigarettes, Shares Fall

The Cigarette Century: The Rise, Fall, and Deadly

Altria shares plunge after FDA releases road map to curb tobacco

BAT-Reynolds: A Modest Premium for Modest Cost Savings - WSJ

BAT: Camel's broken back is last straw for investors

Tobacco Company Archives - Page 7 of 137 - Clear The Air News

BAT: Camel's broken back is last straw for investors