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How is Philip Morris International dealing with the fragile economy?

Philip Morris International Inc posted higher-than-expected fourth-quarter profit and announced a new $12 billion share repurchase program, sending its shares up more than 4 percent.The company, which sells Marlboro, Parliament cigarettes and other well known brands outside the United States, said selective price increases helped it go through the harsh economic conditions and high unemployment rates that made some smokers to buy lower-priced brands. Now the economy is fragile and it needs a good recovery. The company believes that even though it is a hard period that everybody is going through they hope the results will be even better than the last year. They will make everything that is possible for that to happen. In 2003 took place the rebranding of Phillip Morris to Altria. The name “Altria” means “high” from … Read entire article »

Filed under: Marlboro brand