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By Anthony Myers
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October 29, 2021
– Last updated on
October 29, 2021 at 10:17 GMT
Related tags:
Hershey, financial results
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In a statement, the company predicts net sales growth of 8% to 9% in 2021, up from its previous growth range of 6% to 8%.
The news comes due to the strong demand for its products, including KitKat and Reese’s Peanut Butter Cups, due to consumers’ early Halloween spending.
Hershey also expects adjusted earnings per share to be between $ 6.98 and $ 7.11, an increase of 8-10 Percent from previous outlook.
In a earnings call to media and analysts, Michele Buck, Chairman and CEO of Hershey said consumer demand for his brands has remained robust on both a one- and two-year basis.
“It’s a very strong Halloween season, the biggest we’ve had, with very strong double-digit growth on top of the strengths we had last year. We have done our best to bring as many products to market as possible.
« Of course I would say supply pressures affect every aspect of the business, so billing season would be a part of it. But we’re very excited about the gains we’ve seen this year both in the category and in our own business. ”
Buck told analysts that Hershey remains » looking up « for the future, although this is still a balancing act and the company has tried to be « prudent » with its investments.
« We also see some of this enduring strength when people are on the go and mobility increases and we do quite a bit there Seeing good balance, « she said.
» The other thing we’ve heard from consumers over the years is the emotional aspect of the category and how it fits in with good and happy moments.
« And as these happy moments have increased, I believe that people believe that they see a light in us at the end of the tunnel in dealing with the pandemic, these moments of happiness that we are really connected to. » With see w ir next.
« So this is really our perspective … a lot of these routines that we believe some will continue in the future. »
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Related topics:
Manufacturer,
Chocolate,
Candy,
Hershey
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