Hershey raised its prices but customers still want chocolate
Even with inflation keeping customers weary of spending on everything from fast food to clothing, the Pennsylvania-based company is still seeing a demand for its chocolates and candy. It said it benefited from the Valentine’s Day holiday season the most this year, with sales up 6.5%. Meanwhile, its Easter sales were slightly lower than it expected.
Hershey’s stock rallies after earnings beat, as chocolate sales jump
We are off to a strong start and remain on track to deliver our business strategies and financial commitments for the year,” the company’s CEO said Friday.
Hershey tops first-quarter estimates on higher pricing
Hershey exceeded Wall Street expectations for first-quarter sales and profit on Friday, benefiting from higher prices and steady consumer demand for its chocolates and candy. WHY IS IT IMPORTANT? Hershey has seen minimal resistance as its customers have been willing to spend on higher priced chocolates and candy.
Hershey’s Earnings Are Coming. Watch What It Says About Cocoa Prices.
Cocoa prices have been on a tear as rot-causing diseases and drought in West Africa led to significantly lower harvests. But prices have been crashing in the past two weeks as speculators have bailed out.
Hershey's Earnings Beat Forecasts Despite Record Cocoa Prices
Chocolate giant Hershey (HSY) has managed to report better-than-expected first-quarter financial results despite the price of cocoa reaching all-time highs in recent months. The Pennsylvania-based company behind Kit Kat chocolate bars and Milk Duds candy reported earnings per share (EPS) of $3.
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