['40,', '41', '42', '44,45', 'DRAFT', 'The', "industry's", 'rate', 'of', 'decline', 'has', 'moderated.', 'More', 'importantly,', 'we', 'account', 'for', '56%', 'of', 'the', 'premium', 'segment', '—', 'and', "it's", 'continuing', 'to', 'grow.', 'The', 'segment', 'has', 'climbed', 'to', 'more', 'than', '71%', 'of', 'the', 'industry,', 'adding', '5.2', 'billion', 'cigarettes,', 'or', '1.7', 'share', 'points,', 'for', 'the', 'year', 'to', 'date.', 'And', 'the', 'discount', 'segment', 'has', 'continued', 'to', 'decline.', "Let's", 'focus', 'for', 'a', 'minute', 'on', 'the', 'premium', "segment's", 'gain', 'of', '5.2', 'billion', 'cigarettes.', 'This', 'was', 'the', 'net', 'of', 'two', 'factors:', 'a', '5.4-billion-unit', 'gain', 'by', 'Philip', 'Morris,', 'Lorillard', 'and', 'RJR...', 'and', 'a', '200-million-unit', 'loss', 'by', 'the', 'others.', 'The', 'real', 'news', 'is', 'that', 'Philip', 'Morris', '|', 'accounted', 'for', 'some', '70%', 'of', 'the', '5.4', 'billion', 'additional', 'premium', 'cigarettes.', 'For', 'the', 'year', 'to', 'date,', 'the', 'total', 'industry', 'was', 'up', '2.7', 'billion', 'cigarettes.', 'But', 'we', 'were', 'up', '3.1', 'billion', 'cigarettes.', 'And', 'we', 'expect', 'our', 'volume', 'to', 'be', 'up', 'for', 'the', 'full', 'year.', 'And', "here's", 'more', 'good', 'news:', 'Our', 'shipment', 'share', 'hit', 'a', 'record', 'of', '47.3%', 'for', 'the', 'year', 'to', 'date,', 'up', 'a', 'full', 'point', 'from', 'the', 'prior', 'year.', 'Our', 'retail', 'share', 'performance', 'is', 'even', 'stronger,', 'at', '49.1%,', 'up', '1.6', 'points.', 'And', 'Marlboro', 'is', 'continuing', 'to', 'climb', '—', 'even', 'after', 'gaining', '10', 'share', 'points', 'in', 'three', 'years', '—', 'hitting', 'a', 'year-to-date', 'share', 'of', '32.8%,', 'up', '2.1', 'share', 'points.', '6/13', 'Bernstein', 'conference', '5', '6/12', 'rehearsal', '9520180202']