All articles tagged with #hershey
The Philadelphia Flyers faced a tough preseason game against the Washington Capitals in Hershey, losing 5-1 with limited offensive success and several roster battles evident, including debut performances by goaltenders Vladar and Kolosov.
A U.S. District Court dismissed a lawsuit claiming Hershey's Reese's Halloween candies were deceptive because their packaging depicted spooky designs that were absent from the actual chocolates, ruling that the lack of design did not cause economic harm to consumers.
The article suggests that despite current challenges, well-managed consumer staples companies like PepsiCo, Clorox, Hershey, Hormel, and General Mills are good long-term dividend investments, as they tend to recover and grow over a five-year horizon, offering attractive yields and potential for appreciation.
Hershey is increasing the prices of its chocolate products by a 'lower double-digit' percentage due to soaring cocoa costs, which have risen significantly in 2024 driven by climate change impacts on cocoa-producing regions. The company also plans to implement 'shrinkflation' by reducing package sizes to manage costs without directly raising prices. Other chocolate makers like Lindt are also raising prices amid high cocoa prices.
Hershey, the largest chocolate maker in the US, announced a low double-digit price increase on its products due to a 73% rise in cocoa costs driven by a global shortage caused by unfavorable weather and lack of investment, with the change taking effect in the coming weeks.
Hershey will raise candy prices by low double digits due to rising cocoa costs driven by a global shortage caused by climate change and underinvestment, affecting products across its portfolio, with prices taking about 90 days to implement.
Hershey is raising the prices of its chocolate products by a 'lower double-digit' percentage due to soaring cocoa costs, which have increased significantly in 2024 because of poor harvests in cocoa-producing regions affected by climate change. The company also plans to implement 'shrinkflation' by reducing package sizes to manage costs without directly raising prices. Other chocolate companies like Lindt are also experiencing similar price hikes.
Hershey plans to implement a double-digit price increase across its confectionery products due to rising cocoa costs, which have been affected by supply issues in West Africa, although cocoa prices have recently fallen from record highs.
Kirk Tanner, former Wendy's CEO and ex-PepsiCo executive, has been appointed as the new CEO of Hershey, effective August 18, succeeding Michele Buck who is retiring. Wendy's has named CFO Ken Cook as interim CEO during the transition, while the company searches for a permanent replacement.
A biopic about Milton S. Hershey, directed by Mark Waters and starring Finn Wittrock and Alexandra Daddario, has wrapped filming in Pennsylvania after over seven weeks, depicting Hershey's life from the 1870s to 1910s and highlighting his contributions to community and education.
The UK's Food Standards Agency has warned the public against consuming certain Jolly Rancher candies due to the presence of harmful hydrocarbons (MOAH and MOSH) that pose health risks, including potential cancer. The products have been recalled in the UK, but some imports remain, and consumers are advised not to buy or eat them.
The UK Food Standards Agency has issued a warning that certain US-made Jolly Rancher candies contain chemical compounds (MOAH and MOSH) that could damage DNA and increase cancer risk, prompting a recall and urging consumers and businesses to stop selling or consuming these products, although the immediate health risk is low.
Hershey Trust Co., the main owner of Hershey Co. with significant voting power, has rejected a takeover offer from Mondelez International Inc., deeming it too low. This decision could halt the potential merger that would have created a food giant with nearly $50 billion in combined sales.
Hershey's stock fell by 3.6% following Mondelez's announcement of a $9 billion share repurchase plan, which led to a 3.4% rise in Mondelez's shares.
Mondelez International is considering another attempt to acquire Hershey, driven by high cocoa prices and changing consumer habits, which may make Hershey more amenable to a deal than in 2016. A merger would create a $50 billion food group, intensifying competition with Mars Inc. The Hershey Trust, controlling 80% of Hershey's voting shares, will play a crucial role in the decision. Mondelez's strategy aligns with recent industry trends, such as Mars' acquisition of Kellanova, highlighting the need for scale and diversification in the food market.