AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Byline: Brian Louis
Oct. 23--R.J. Reynolds Tobacco Holdings Inc. said yesterday that third-quarter profit increased 17 percent compared with the same period last year, but it cut its profit forecast for the full year because of increased spending on promotions.
The Winston-Salem company's third-quarter profit increased mainly because of an accounting-rule change.
Excluding that change and another item, third-quarter profit decreased 33 percent compared with the same period last year because of heavier spending on promotions to combat increased competition. Promotions include discounts and buy-some get-some special offers on cigarettes.