| I did a convenient store chain investor conference today and thought this was interesting info re. cigarettes. Sure would be a good time for somebody to sell some ecigs at a decent price with some ejuice to go with it!
How much does a pack of cigarettes cost these days??? I think he's saying the increases in Mississippi and Florida are still to come...
Here's a copy/paste:
Chief Financial Officer: So the chronology was the manufacturers took a price increase in early March, the federal tax increase hit April 1st, for us there was a Mississippi $0.50 a pack increase in May, and then the big one for us was a $1.00 state excise tax increase in Florida on July 1st.
So as we sit here today, in this quarter you will again see year-on-year big increase in prices due to the excise taxes. And what we talked about when this all happened and talked to investors about what we anticipated was going to happen is historically, when you see these big tax increases, you see a big decline in units and then you see kind of a build back over time as customers get used to the higher price levels. And we've kind of seen that in the business.
__________________ ~ VDay ~ 11~7~09 ~ |