SWEDEN
Swedish Match says discounters hurt volume

Swedish Match said low-priced products from competitors reduced its share of a growing domestic snus and snuff market during the first quarter.

However distribution and sales of its General snus brand in the US did very well in the first three months of the year, the company said in a statement.
Nielsen data covering most of the business quarter show Swedish Match’s share of the market in Sweden and from travel retail fell more than six percentage points to 73.3 per cent by volume. Value declined to 79.5 per cent of the market from 84.1 per cent, Swedish Match said. However the company said it did not pass the January snus excise tax increase on to its consumers.
Demand for low priced products, where the Swedish Match offering is limited, caused the domestic market in Sweden to expand by an estimated 5 per cent in the first quarter, the company said.
“During the year we will continue to invest for growth for snus internationally, particularly in the US, and also increase spending in order to drive share growth in the fast growing pouch segment of the US moist snuff market. In Scandinavia, we will increase investments behind new market initiatives,
particularly in Sweden, which has been negatively impacted by portfolio mix shifts”, Swedish Match said in a statement.
Sales of snus and snuff declined 3 per cent to SEK 1.17 billion (EUR 137 million) in the January-March period while sales including all operations rose 2 per cent to SEK 2.98 billion. Snus and snuff operating profit fell 6 per cent to SEK 534 million and by 12 per cent to SEK 260 million for other tobacco products. (ci)

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