Altria Performing Well Despite COVID-19

Richmond-based tobacco company Altria’s stock is performing relatively well, The Motley Fool even called it a “cash cow.” That’s despite several factors working against the tobacco company, including the COVID-19 pandemic with worse outcomes for people with tobacco-related health problems and an economic crisis.

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COVID-19 Helps Drive Restaurant Alcohol Sales Down Close to 20 Percent

Alcohol sales at restaurants and similar business decreased 19 percent in the 2020 fiscal year, according to a press release from the Virginia Alcoholic Beverage Control Authority (ABC). At the same time, total ABC revenue, including licensee sales, increased by $117 million, driven by an increase in retail sales.

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