Hershey moves to sixth on DiversityInc’s Top 50 Companies list

The Hershey Company’s diversity, equity and inclusion (DEI) efforts through various initiatives has been acknowledged after it was named sixth on DiversityInc’s Top 50 Companies for Diversity list, reflecting an advancement over the past several years from no. 33 in 2018. This recognition reinforces the company’s progress against its DEI commitments, with the implementation of … Read more

Can Hershey hold on to share gains as capacity constrains bump against increased demand?

“We have gotten off to a tremendous start to the year with reported sales growth of 16% and adjusted EPS growth of almost 32% in Q1”​ thanks in part to resilient consumer demand despite mid- to high-single-digit price increase across the portfolio and a “Strategic focus on enhancing our offerings and price points to ensure … Read more

Hershey increases earnings outlook after strong Q1

Revenue rose 16.1% to $2.67bn, beating estimates of $2.48bn, according to the company’s First-Quarter 2022 Financial Results. Hershey said demand in response to price increases was stronger than expected but is likely to taper off due to rising inflation and fewer US government benefits. Consumer buying power has been under pressure from rising food prices … Read more

African cocoa farmers challenge EC proposals over deforestation

Last month five organizations representing some of Europe’s biggest cocoa, coffee, palm oil and soy traders, issued a challenging statement key elements of the European Commission’s regulatory proposal on deforestation-free supply chains. Specifically, they claimed that the Commission’s proposal risks the lives of smallholders, who they say “will be negatively affected if the provisions [in … Read more

Hershey beats profits forecast after raising prices and strong holiday demand

The confectionery giant said in its Full-Year 2021 Financial Results it expects an annual adjusted profit of between $7.84 and $7.98 per share, compared with estimates of $7.57 per share. Net sales rose to $2.33bn in the quarter ended 31 December, from $2.19bm a year earlier, compared with estimates of $2.27bn, according to Reuters’ data. … Read more

US chocolate brands spread the love this Valentine’s Day

A survey in 2021 from the National Confectioners Association claims 84% ​​of Americans think that chocolate and candy are a fun part of special celebrations, including Valentine’s Day, while 87% of Americans enjoy seasonal Valentine’s Day chocolate and candy. When asked how they select a treat from a Valentine’s Day box of chocolates, 50% of … Read more