had the that impressive quarter share and outperforming data start same wholesale Howard from X.X% also first by X.X%, good shipments year, industry. year strong the Science first increased shipments a by delivering According I'm XXXX, to retail retail prior in while pleased to for the to X.X%, results compared quarter industry morning. increased Liggett's you, Liggett Liggett's period report X%. industry Management while and X.X%. Associates, quarter the Liggett's X.X% shipments declined up wholesale Thank first period. retail the shipments in declined from market to by grew to
X% Montego adjusted as approximately increased Liggett's from to addition, growth. income by brand gradually income our transitioned operating volume In we
benefits combination of lower-income put position. an The inflation and in reduced consumers has difficult COVID increasingly
as the We As both and inflation are market. pressures a remains persist consumers on reduction market discount the end. deep combustible in of and result, cigarette benefits economic growth within overall consumption believe we COVID will high these seeing total a
more reflects performance proving Our best Liggett's U.S. discount a strategy industry, the segment. mission the impressive continued effective propositions that value offer to in of particularly the cigarette as the shift success is to consumers
XXXX, year period quarter data, in the fourth the retail a from XX.X% total Management the the months of XX.X% up category the last Associates year market for XX, Science to According ago. X same represented and discount ended of March XX.X% in
to category, discount we the Within segment. momentum on deep for growth see brands continue discount the in
from overall same quarter segment approximately of comprised year that in estimate year of XX.X% in quarter first up the market, and last XX% the ago. the fourth For we XX.X% discount the of the XXXX, period deep a
deep with the brand as competitive provide continue consumers Liggett to attractive migration and distribution advantage. our and portfolio that presents discount value-focused national option this an a are broad segment expect for confident price We
Montego brand and which largest largest became also the fifth brand cigarette grown the in U.S. discount our largest brand has to second become in XXXX
first year more quarter distribution stores to year of prior from than prior quarter Our XX,XXX X.X% period. brand's in the expanded up X.X% stores Montego XXXX, from in XXXX, from to in of quarter and share the market retail The period. the national the the in in X.X% prior up XX,XXX first increased of
is effectively Our volume, of our long-term optimizing portfolio. profit value-based with pricing managing brand consistent Montego market in objective our strategy by and with share
foundation Eagle XX's expanded and in continue deliver benefits our we substantial which Pyramid to While our has market reap investment significant presence. and for growth, earnings long-term both Montego from income
the tobacco turn Tobacco. consolidated and for I will financials Vector Group Liggett to now
the For for period. months period. corresponding March March revenues X to EBITDA from million, adjusted for million, X.X% $XX.X ended ended XXXX the from period. ended X operating XXXX the XXXX, $XX in months X million, $X.X income the was X.X% $XXX.X up increased or million XX, $XXX XX, Tobacco up for was March million XX, the up the in Tobacco from XXXX, million XXXX, XXXX million months $XX.X $XX.X
a increased first to we gap higher -- XXXX up from tobacco approximately the which in Montego. million, These at operating profit brand continued increased the of $XXX.X premium income strategic retail. period. quarter, in see stable current price the profits million Montego to This is reflected the and our clearly as XX% In leading in between discount gross occurred remained the and of benefits $XX.X investment industry's X.X% our gross
nicotine preliminary on this year. menthol front, the a standard final later regulatory On we the expect cigarettes both reducing in combustible standard and
position consequences scientific unregulated have as regulation supported answer sound prohibition is markets. the we not unintended illicit reasonable growth right as remain our evidence, that based inevitably we on firm it drives always the in of While such
we Most for strategy long-term the In potential. on in summary, our And share our strategy remains have advantages growth our and operational discount long-term of retail foundation performance competitive market segment. profit earnings the gains business our builds strong. our Tobacco financial the and validate and importantly,
are to operating well infrastructure keep While we general our industry risks, business we subject always that strategy regulatory position to our confident us market and are and efficiently.
for your you, to attention back Thanks Howard. and
