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Zig zag papers1/30/2024 Raw Tips are crafted from naturally unrefined long fibers using an original type Fourdrinier paper machine. With more than 130 years of expertise, Zig-Zag continues to provide a range of premium quality rolling papers, cigar wraps and cones that deliver superior smoking experiences. During the 1960s and 70s, Zig-Zag’s popularity grew across the United States and Le Zouave became an icon of the counterculture. Six years later, Zig-Zag was registered as a trademark and found fame all over the world. In 1900 Zig-Zag papers gained international recognition when they were awarded a gold medal at the Universal Exposition in Paris. This revolutionary process became a new packaging standard that’s still in use today. They patented their invention and named the new product “Zig-Zag” after the Z shape the interleaved papers make when pulled from the package. In 1894 the Braunstein brothers perfected a packaging process that allowed the papers to automatically dispense from the booklet one at a time. In 1879, brothers Maurice and Jacques Braunstein established a business in Paris to produce fine cigarette paper in flat booklets Ever resourceful, he had the brilliant idea to roll his tobacco in a piece of paper torn from his bag of gunpowder.įor more than 130 years, the image of Le Zouave has adorned every Zig-Zag product as a tribute to the creative soldier. In the 19th Century, during the battle of Sevastopol, a French soldier (also known as a “Zouave”) had his clay pipe broken by a stray bullet. Turning Point is in a comfortable position ending the quarter with a total liquidity of $128.4 million. During the quarter, the company repurchased $13.9 million in aggregate principal amount of its 2.50% Convertible Senior Notes due July 2024.This premium Zig-Zag King Size Rolling Papers provides a long lasting smooth smoking experience. “Stoker’s saw another quarter of solid performance with strong market share gains in both the MST and loose-leaf chewing tobacco categories as its value proposition continues to resonate with consumers,” continued Purdy. Stoker’s Products net sales increased 6.2% to $33.7 million on high single-digit growth of MST and low-single digit growth of loose-leaf chewing tobacco. “The acceptance of CLIPPER lighters within the trade remains encouraging and sets up well for increased penetration going forward.” Tobacco Our e-commerce business had another quarter of double-digit growth as we continue to build our presence in the alternative channel,” said Purdy. “Zig-Zag papers and wraps demonstrated solid results in-light of planned inventory reduction with certain customers. On a positive note, TPB’s Canadian and other smoking accessories businesses saw strong growth during the quarter. rolling papers and wraps businesses due to a reduction of trade inventory during the quarter. Turning Point said it expected the drop in the U.S. Zig-Zag rolling papers accounts for 42% of the company’s sales and during the quarter those net sales decreased 8.3% to $41.9 million. We are currently maintaining our annual guidance as we focus on executing against our plan for the balance of the year.” Zig-Zag We opportunistically purchased another $13.9 million in aggregate principal amount of our convertible notes during the first quarter while maintaining a strong cash balance. Stoker’s had a solid quarter of performance as the value proposition of Stoker’s MST and looseleaf led to another quarter of market share gains. With the adjustment in trade inventory, Zig-Zag is now well-positioned to demonstrate growth for the balance of the year. “The Zig-Zag segment had an anticipated inventory reduction with certain wholesale customers but saw strong performance from the alternative channel and the roll-out of CLIPPER lighters. “We are encouraged by our first quarter operating results which fell within our expectations,” said CEO Graham Purdy. The diluted earnings were $0.41 versus last year’s $0.55 and the adjusted diluted earnings were $0.62 versus last year’s $0.71. Net income fell by 30.9% to $7.6 million. Turning Point told investors it is keeping its previous expectation of full-year 2023 adjusted EBITDA to be in a range of $88 to $94 million. (NYSE: TPB) announced financial results for the first quarter ended Maas overall by revenues increased slightly by 0.1% to $101.0 million.
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