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Non-Tech : Holts Cigar (HOLT)
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To: Scot who wrote (20)9/26/1998 6:10:00 PM
From: Boyd Hinds  Read Replies (1) of 25
 
Scot:

Early reports that I read in the NY Times indicate that crop damage was substantial, somewhere around 90%. No indication about tobacco, or the type of damage sustained.

How does it affect the cigar industry? Hard to say. Remember that inventory glut that has dragged down both producer and distributor alike? Well, cigars just got a little more difficult to supply. Prices should rise, but not by much given that supply was previously quite large. It will take us time to work through that glut, but if the cigar tobacco crop in the DR was severely damaged, it will mean reduced supply and higher prices for producers.

HOLT may not be impacted either way, IF they can sustain revenue growth and margins in the face of prospective price increases. However, my gut feeling is that this is not good news for distributors like HOLT....
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