Hershey sees a strong demand for chocolates and seasonal candies as people are housed in their homes, looking for every little occasion to celebrate.
“Throughout the year, the seasons were one of the key factors, as consumers really wanted the comfort and normalcy associated with seasonal traditions and rituals at a time when Covid was uprooting its life,” said Michele Buck, CEO of Hershey. an interview on Thursday with Sara CNBC. Eisen la “Closing Bell”.
A notable example was a trend that Hershey observed that as coronavirus cases increased across the country, the demand for s’mores ingredients increased. No doubt, families sought pleasure by installing barbecues in their backyards and frying s’mores by the fire. Hershey said its chocolate sales were 40% to 50% higher in areas with a higher number of Covid-19 cases than in areas that were lower.
“Last year, we noticed that whenever the number of Covid cases increased, we saw an increase in sales of ingredients s’mores and then we could use the trajectory of the number of cases as a foreshadowing of where we should focus some of the these efforts and build displays and puts the media on those markets, “Buck said.
Retailers are wise and trendy and stocked up on Valentine’s Day and Easter candy earlier than ever to make sure they have the right supply.
Shares of Hershey closed down less than 1% on Thursday at $ 147.22, after reporting its fourth-quarter sales rose 5.7% to $ 2.19 billion. Net income rose 41% to $ 291.4 million. Except for the articles, Hershey earned $ 1.49 per share, beating analysts’ estimates.