Good progress for Hershey

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HersheyLogoThe Hershey Company has announced sales and earnings for the third quarter ending 28 September 2014.

John P Bilbrey, president and chief executive officer, The Hershey Company, says: “We made good progress against our third-quarter objectives as net sales, retail takeaway and market share trends improved versus the first half of the year.

“As expected, third-quarter US marketplace performance was solid as we gained market share across all segments – chocolate, non-chocolate candy, gum and mint – and essentially throughout every quad.

“Halloween seasonal orders and net sales were slightly better than our estimates. While preliminary, Nielsen data indicates Halloween sell through is on track and that we will gain market share in this important season. By class-of-trade, our marketplace performance was solid in the convenience store, large mass and value channels.

“I was particularly pleased with our third quarter convenience store retail takeaway of 4.0 per cent and market share gain of 0.2 points. However, retail store traffic and consumer trips continue to be irregular within the food channel. This has adversely impacted purchases of non-seasonal everyday candy products.

“Over the remainder of the year and into 2015 we are focused on driving non-seasonal and seasonal net sales growth, across all channels, with the optimal mix of innovation, advertising, merchandising and programming that we believe positions us to win across the confectionery and broader snacks categories”.

Source: Confectionery News