Welcome to our dedicated page for Hershey news (Ticker: HSY), a resource for investors and traders seeking the latest updates and insights on Hershey stock.
The Hershey Company reports recurring developments as a NYSE-listed snacks company with a portfolio spanning confectionery, salty snacks and protein-focused products. Its brands include Hershey's, Reese's, Kisses, KIT KAT, Jolly Rancher, Twizzlers, Ice Breakers, SkinnyPop, LesserEvil, Pirate's Booty, Dot's Homestyle Pretzels, ONE Brands and Fulfil.
Company news commonly covers quarterly sales and earnings, full-year outlook updates, dividend declarations on Common Stock and Class B Common Stock, investor day presentations and conference appearances. Product announcements also track limited-time candy launches, brand partnerships and merchandising activity across Hershey's core chocolate, sweets, salty-snack and functional-snacking categories.
The Hershey Company (NYSE: HSY) reported a strong third quarter ending September 27, 2020, with net sales reaching $2,219.8 million, up 4% year-over-year. The company achieved a 39% increase in net income to $447.3 million, resulting in diluted EPS of $2.14. Adjusted EPS rose 15.5% to $1.86. North America segment net sales grew 6.3%, driven by price realization and volume growth. However, international sales declined 14.4%. Hershey reinstated its full-year guidance, expecting reported net sales to rise around 1% and adjusted EPS in the range of $6.18 to $6.24 for 2020.
The Hershey Company (NYSE: HSY) announced a formal review of its U.S. media agency for its candy, mint, and gum business, excluding Amplify Foods and international markets. This evaluation aims to identify partners that can enhance Hershey's internal media capabilities in the evolving media landscape. The review is invitation-only for incumbent agencies, with a decision expected in Q2 2021. The company seeks to ensure its media investments drive growth as it adapts to an omnichannel environment.
Quinn, a natural foods snack company, has secured additional Series D funding from The Hershey Company (NYSE: HSY) and existing investors. This investment aims to enhance distribution and product innovation. Founded in 2010, Quinn has experienced a 65% revenue growth this year, establishing itself as the leading pretzel brand in the Natural Channel. Hershey's investment aligns with its commitment to sustainability and diversity, as well as supporting female entrepreneurs. Quinn's innovative snack products include gluten-free and organic options, underlining its dedication to ingredient transparency.
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Hershey is launching the Hershey Halloween Squad to ensure a festive Halloween season in 2020. This team consists of renowned experts including food and lifestyle expert Justine Santaniello and parenting psychologist Dr. Michele Borba. They will provide creative Halloween tips and new recipes to engage families during celebrations. The company also introduced new seasonal products like Reese's Franken-Cups and Kit Kat Witch's Brew bars ahead of the season. Hershey supports Halloween safety guidelines amidst the pandemic, aligning with health organizations.
The Hershey Company (NYSE:HSY) will release its third-quarter sales and earnings results on November 6, 2020, at 8:30 a.m. ET. This year, the conference call is scheduled two weeks later to facilitate a detailed discussion regarding Halloween results, a crucial factor amid the COVID-19 pandemic. Analysts can participate via a live webcast on Hershey's corporate website. For further details, visit the 'CALENDAR OF EVENTS' section of their site.
The KIT KAT® Brand has launched the Flavor Club Sweepstakes, allowing 200 fans to taste new flavors before their public release. Open from Sept. 21 to Sept. 29, 2020, entrants can win membership to receive exclusive tasting kits. The first kit will feature the anticipated KIT KAT® DUOS mocha + chocolate flavor, set to hit shelves in November. The initiative aims to gather consumer feedback to influence future flavor innovations. The program represents Hershey's commitment to engaging its customer base and enhancing product development.
Hershey has announced its new holiday product lineup featuring innovative treats from popular brands like HERSHEY'S, REESE'S, KIT KAT®, and ICE BREAKERS, set for nationwide release in October 2020. The offerings include HERSHEY'S KISSES Sugar Cookie candy, Milk Chocolate Build-A-Santa, Peanut Butter Nutcrackers, and KIT KAT® DUOS Mint + Dark Chocolate. The release marks one of the largest holiday collections the company has created, aiming to enhance holiday festivities with unique flavors and interactive products.
Hershey announces the launch of Reese’s Snack Cakes, a new morning treat combining chocolate and peanut butter creme. Set to hit convenience stores in December 2020, these 2.75oz cakes will retail for $1.99 per pack. This innovation targets the growing trend of consuming dessert before noon, appealing to the 83% of adults who indulge in morning desserts. Brand manager Mike Orr emphasizes that this product allows Reese’s fans to enjoy cake any time of day, officially redefining the concept of a morning snack.
The Hershey Company (NYSE: HSY) appointed Robert M. Dutkowsky to its Board of Directors, effective Aug. 29, 2020. Dutkowsky, 65, is a former executive chairman and CEO of Tech Data and will serve on the Finance, Risk Management, and Governance Committees. CEO Michele Buck expressed confidence in his growth-oriented leadership and expertise in technology and digital capabilities. With a career beginning at IBM, Dutkowsky brings extensive experience from executive roles in various tech companies. Hershey operates with over 80 brands, generating around $8 billion in annual revenue.