Interesting news regarding Cuba… Despite reports of cutting sizes, Habanos S.A. is apparently turning better profit margins than last year. The explanation is the rise in new millionaires, part of which has to be helped by China’s surge in smoker’s clubs.
In the “recent tobacco legislation” section of the news… The smoking laws continue to kill business, the latest victim: the VIP Lounge of El Gaucho Steakhouse in Tacoma, Washington. Wisconsin’s state-wide indoor smoking ban started last week. You can read my thoughts about the recent enactment of PACT, here.