- General
- June 11, 2019
- 4 minutes read
Juul Sales Boom
A woman vapes from a Juul Pod. image: vaping360.com/juul/juul-vapor-review/ According to a Bloomberg piece, popular e-cigarette maker Juul has told investors that…
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| A woman vapes from a Juul Pod. |
According to a Bloomberg piece, popular e-cigarette maker Juul has told investors that sales have gotten stronger after a short period of lowered sales late last year, due to a pulling off of some flavored vape products in the U.S. stemming from increasing popularity with underage users. According to Bloomberg, Juul said — in a letter to investors — that its first quarter sales were $528 million, up 23% from $430 million a year earlier.
Juul was previously reported to be expecting $3.4 billion in sales this year. An earlier conference call from Altria — which purchased 35% of Juul for $12.8 billion in December — said Juul sold 175 million refill pods in the U.S. in Q1, up from 64 million a year earlier. In Q4 2018, Juul told investors it had $70.4 million in adjusted losses and more than $700 million cash on hand.
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| image: vaping360.com/juul/juul-vapor-review |
But increased sales come with increased scrutiny. Juul is facing increased probes from regulators in the U.S., India and other places, with critics saying the company has drawn lots of non-smokers to a new form of nicotine. Juul on the other hand has argued that its products helps adult cigarette smokers switch to other alternatives and that it’s working to restrain underage use of its products.
