Vaping Fallout Widens as Imperial Plunges on Profit Warning
- Imperial Brands earnings growth ground to a halt this year
- Disruption caused by vaping backlash is weighing on prospects
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The U.S. vaping crisis ensnared another tobacco company as Imperial Brands Plc said earnings growth ground to a halt after a drastic slowdown in revenue from smoking alternatives.
The warning from the maker of Blu vaping devices adds to the fallout from a backlash against e-cigarettes that has already scuttled the biggest potential merger in the industry. Imperial’s shares plunged 13% on Thursday, wiping out more than $3 billion of market value.