CLAIM #42938 · Altria Group (MO) · 2023Q4 earnings call · Feb 1, 2024 · due Dec 31, 2024
“As far as the NJOY, certainly, you can expect more investment in 2024 than you did in 2023.”
Billy Gifford · CEO
In context
“was a lot in that question, Bonnie, so I'll try to unpack it, but follow-up if I missed the piece. So I'll start in the reverse order. Yes, we do more like our core businesses are very strong when you look at the strength of Marlboro in the marketplace, you look at the aspiration of Copenhagen and MST and you look at the performance of those businesses through time, you see that they're very strong and continue to be strong. As far as investments, I'll speak -- you ask about Ploom. We shared in our remarks, we're continuing to work on the application there. We expect to file that in the first half of 2025. It's just the application process and compiling it and the studies that are involved with that. But we feel good about what we've seen with interactions with the consumer to this point. As far as the NJOY, certainly, you can expect more investment in 2024 than you did in 2023. Some of that's just the nature of we didn't close it until June 1, but now we're in 75,000 stores. And so we're really looking forward to having that in the stores where consumers are shopping, having it displayed much more prominently than it ever has been we secured, as I mentioned, the great spot on the fixture. But having that in the consideration set, we feel like once we get that in consumers' hands, consumer research would tell us that they will convert through time for the product because they enjoy it. Operator: [Operator Instructions] we'll go now to Callum Elliott with Bernstein. Callum Elliott: Another one on price mix, but maybe from a slightly longer-term perspective. We've obviously seen a divergence. I think I would describe it this year between your pricing strategy and s”
Verify independently
SEC filings for MO ↗ · Claim quote is verbatim from the 2023Q4 earnings call.