Food Industry
Industry: Email Alert RSS FeedWegmans extinguishing tobacco sales.... and profits.(Wegmans Food Markets Inc.)(Financial report)(Brief article)
Food Institute Report, The, January, 2008
The 71-unit Wegmans chain will halt sales of cigarette and tobacco products in its store effective Feb. 10 and will not order new tobacco products between now and then, reported The Buffalo News (Jan. 4). The Rochester-based chain told its employees that "health concerns outweigh any profits the company gets from tobacco products," reported WBEN 930.
The chain, which operates in New York State, Pennsylvania, New Jersey, Virginia, and Maryland, had sales of $4.1 billion in 2006.
Cigarette sales have been declining in supermarkets in recent years, falling 2.2% between 2005 and 2006 to $4.85 billion according to sales data from INFORMATION RESOURCES INC., reported in the FOOD INSTITUTE'S Food Industry Review 2007. Those sales, however, made up nearly 10%...
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