tobacco king jonestown rd Smoke House & Vapes — Winston-Salem, NC King Tobacco opens in Wadena

These stocks have anywhere b/w 80% - 95% of their revenues from combustibles with risk of regulatory action vs 27% for SWMA (US cigar portfolio)

Fine jewelry, closeouts, clearance, special orders, and Exchange Online Mall concession sites are excluded

Its clear that regulation is an important part of helping to shift attitudes and tackle smoking rates, and we now need to see further bold action, including a polluter pays levy on the tobacco industry, to make this ambition a reality. Deborah Arnott, Chief Executive of Action on Smoking and Health (ASH), said: The evidence from the ITC survey is clear, packaging changes have been successful in making cigarette packs less attractive and health warnings more visible to smokers

Tobacco 21 Policies in the U.S.: The Importance of Local Control With Federal Policy