Hershey Reaffirms Financial Goals and Provides Update on Progress Against Growth Initiatives

The company outlined initiatives underway in its focused international markets where it is making solid progress on expanding its five core global brands – Hershey’s, Reese’s, Hershey’s Kisses, Jolly Rancher and Ice Breakers.

21 Feb 2013 --- In a presentation at the 2013 Consumer Analyst Group of New York (CAGNY) conference, John P. Bilbrey, President and Chief Executive Officer, The Hershey Company; Humberto P. Alfonso, Executive Vice President, CFO and Chief Administrative Officer; and Michele G. Buck, Senior Vice President and Chief Growth Officer; reviewed the progress the company has achieved in its consumer-driven global approach to core brand investment in both the U.S. and key international markets. The company outlined initiatives underway in its focused international markets where it is making solid progress on expanding its five core global brands – Hershey’s, Reese’s, Hershey’s Kisses, Jolly Rancher and Ice Breakers. “We continue to build and execute our consumer-centric business model and are creating a virtuous cycle that is delivering predictable, profitable and sustainable results,” said Bilbrey. “We believe the strategies in place support our long-term targets of organic net sales growth of 5 to 7 percent and adjusted earnings per share-diluted growth of 8 to 10 percent,” Bilbrey concluded.

During the presentation Bilbrey reaffirmed the company's full-year 2013 financial expectations for net sales, gross margin and earnings per share-diluted growth provided in its January 31, 2013, earnings release.