Lorillard second-quarter cigarette shipments fell 1.7 per cent, well below the 6.1 per cent estimated US industry decline for the period, the company said.
Price increases offset volume drop and boosted cigarette sales 1.4 per cent to USD 1.7 billion (EUR 1.3 billion). Operating income rose 11.2 per cent to USD 538 million.
Domestic shipments of its top seller Newport at 8.7 billion units represented a 1.3 per cent dip, Lorillard said. Adjusted for shifts in inventory, Lorillard said its overall domestic volume was unchanged from the year-ago period.
Sales of blu Ecigs were strong at USD 57 million, helped by a national advertising campaign to promote its e-cigarette subsidiary, Lorillard said.