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Tag Archives: Hershey
Shane Wright’s otherworldly talent on full display against Hershey in Calder Cup Finals: ‘He’s obviously a really good player’ – Russian Machine Never Breaks
- Shane Wright’s otherworldly talent on full display against Hershey in Calder Cup Finals: ‘He’s obviously a really good player’ Russian Machine Never Breaks
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Coachella Valley Firebirds suggest they’re no longer selling chocolate during Calder Cup Finals against Hershey – Russian Machine Never Breaks
- Coachella Valley Firebirds suggest they’re no longer selling chocolate during Calder Cup Finals against Hershey Russian Machine Never Breaks
- Coachella Valley makes chocolaty mess of wrong company ahead of Hershey Bears series ABC27
- Firebirds call for boycott of chocolate during Calder Cup Finals against Hershey Bears kuna noticias y kuna radio
- A California hockey team tried to taunt the Hershey Bears on social media — but used the wrong chocolate LNP | LancasterOnline
- AHL Calder Cup Finals: Coachella Valley Firebirds vs. Hershey Bears Desert Sun
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Stories of new Capitals coach Spencer Carbery from AHL Hershey: ‘His brain is always working’ – The Athletic
- Stories of new Capitals coach Spencer Carbery from AHL Hershey: ‘His brain is always working’ The Athletic
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Hershey Bears push Hartford Wolf Pack to the brink of elimination with hard-hitting 4-2 win on home ice – Russian Machine Never Breaks
- Hershey Bears push Hartford Wolf Pack to the brink of elimination with hard-hitting 4-2 win on home ice Russian Machine Never Breaks
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The Hershey Bears will play the Hartford Wolf Pack in Round 3 of the Calder Cup playoffs. Here’s the schedule. – Russian Machine Never Breaks
- The Hershey Bears will play the Hartford Wolf Pack in Round 3 of the Calder Cup playoffs. Here’s the schedule. Russian Machine Never Breaks
- WOLF PACK TO FACE HERSHEY BEARS IN ATLANTIC DIVISION FINALS Hartford Wolf Pack
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Hershey warns it won’t ‘fully meet consumer demand’ this Halloween, Christmas
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Hershey Co. warns of an upcoming Halloween horror, announcing on Thursday that it would fall short of meeting demand for this year’s trick-or-treat and Christmas holiday seasons.
Like many manufacturers, Hershey has been hit by supply chain issues and the war in Ukraine, making ingredients like cocoa, edible oil and other food ingredients hard to find.
“Seasonal consumer engagement is expected to remain high, and we expect high single digit sales growth for both our Halloween and holiday seasons,” said CEO Michele Buck in the company’s second-quarter earnings call this week. “Despite this strong growth, we will not be able to fully meet consumer demand due to capacity constraints.”
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Hershey Co. brand Halloween candy is displayed for a photograph inside a pumpkin themed treat bucket. | Getty Images
Hershey Chief Executive Officer Michele Buck said those issues, along with the company’s focus on meeting demand during non-holiday periods, would lead to a likely shortage during Halloween, but added that sales will still top last year.
The period around the Halloween holiday in October is Hershey’s busiest time of the year, making up about 10% of the company’s annual sales, as kids and their parents stock up on Twizzlers, Jolly Ranchers and Kit Kat bars.
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Still, shares of the Reese’s Peanut Butter Cup maker rose 2.5% in morning trading after the company lifted its profit and sales forecasts, benefiting from price hikes amid resilient demand for its chocolates and candies.
Hershey’s net sales rose over 19% to $2.37 billion in the quarter ended July 3, beating analysts’ estimates of $2.22 billion, according to IBES data from Refinitiv.
While Hershey expects more consumer pushback over higher prices in the second half of the year, the company is relying on price increases to boost growth.
A child holds a Mars Inc. brand Snickers bar and a Hershey Co. brand milk chocolate bar. | Getty Images
The 128-year-old company raised its 2022 adjusted profit per share growth forecast to 12% to 14%, from 10% to 12%. Hershey also said it now expects net sales to grow between 12% and 14%, compared with 10% to 12% estimated earlier.
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“Historically, Hershey’s sales growth has been driven by higher prices and not necessarily volume … The company is entering this period from a position of strength with that expertise,” CFRA Research analyst Arun Sundaram said
Hershey Co. did not immediately reply to Fox News’ request for comment.
Reuters contributed to this report.
Chocolate crunch: Hershey says it won’t be able to meet Halloween demand this year
This Halloween may bring more tricks than treats, with candy maker Hershey warning on Thursday that it won’t be able to meet consumer demand for the October 31 holiday.
CEO Michele Buck warned about the potential shortfall on the company’s second-quarter earnings call, noting that while seasonal consumer demand remains high, “We will not be able to fully meet consumer demand due to capacity constraints.”
That means Halloween favorites such as Reese’s Peanut Butter Cups, Kit Kat, Mr. Goodbar and Almond Joy may not be as plentiful this Halloween as in previous years.
Americans have turned to sugary treats in the pandemic, pushing candy and chocolate sales to a record high of $36.9 billion in 2021, according to the National Confectioners Association. With consumer demand rising, Hershey was faced with a dilemma, since their Halloween candy is made on the same equipment as its regular inventory, Buck noted.
“[W]e have a strategy of prioritizing everyday on-shelf availability,” Buck noted on the conference call. “It was a tough decision to balance that with the seasons, but we thought that was really important.”
Of course, people who want to give out Halloween treats this October will have other choices in the candy aisle, with rivals such as Mars (maker of M&Ms and other candies) and Ferraro (Butterfinger and Crunch bars) likely stepping in to fill the sugary void.
It’s not only capacity constraint that is challenging Hershey, Buck added that supply-chain issues also remain a problem.
“I think generally we continue to see struggles across the supply chain,” she said. “[W]e’re now starting to see bigger concerns relative to scarcity of ingredients needing to leverage different suppliers at higher cost and price points in order to secure production.”