Because traditional cigarettes are in a secular decline and reduced-risk vapor products like Juul and IQOS are the future of smoking, at least for the near term, these two developments undermined Altria's growth trajectory. What spooked the market was Kroger's gross profit margin slipping 140 basis points because of inflation's impact on prices, merchandise, and labor, coupled with the constraints imposed by supply chain disruptions. Longer-term, Kroger's growth trajectory remains unchallenged, and while profits could get pinched due to these temporary logjams hindering the free flow of goods, they will sort themselves out over time.