Premium-to-Discount Cigarette Price Gap Narrows

(CSN) The price between premium cigarettes and deep discount brands got a little narrower as Liggett took an 8-cent -per-pack list price increase on its deep discount brands, according to one analyst.
With the price hike on Liggett's Select, Eve and Grand Prix cigarette brands, the relative price gap between premium and deep discount drew slightly closer to around 32 to 33 percent. It had been approximately 36 percent, according to Bonnie Herzog, managing director, beverage, tobacco and consumer research at Wells Fargo Securities LLC. The three big tobacco companies could come out winners in the move, she noted. Continued