Monday July 30, 2012
Hershey Reports Q2 Growth
Hershey, PA — Net sales increased 6.7 percent during the second quarter, compared with the same period the year prior, and reached $1.4 million, according to The Hershey Co.
Further, the company says net price realization was better than anticipated, at a 6.6 percent increase, while volume was down 1.1 points due to pricing elasticity.
Overall retail takeaway in candy, mints and gum (CMG) was up 6.1 percent across all outlets, including c-stores, for the 24-week period ending June 16. The company attributes this to a good Easter season, successful product launches and sequential improvement in everyday chocolate.
Additionally, second-quarter advertising expenses were up about 10 percent year-on-year.
John Bilbrey, president and CEO, says: “The investments we have made in our business over the last few years have enabled us to deliver predictable, profitable and sustainable growth, despite the challenging global macroeconomic conditions that continue to exist. Results have been solid where we have focused resources, with Hershey U.S. CMG retail takeaway and market share up across virtually all measured channels.”