The Hershey Company Announces Price Increase
An increase of approximately 4-5 percent on the Company's standard bar, king-size bar, 6-pack and vending lines is effective immediately. These products represent roughly one-third of the Company's portfolio.
05/04/07 The Hershey Company, North America's leading chocolate and confectionery manufacturer, announced an increase in the wholesale prices of its domestic confectionery line.
An increase of approximately 4-5 percent on the Company's standard bar, king-size bar, 6-pack and vending lines is effective immediately. These products represent roughly one-third of the Company's portfolio. This action will help offset the Company's input costs, including raw and packaging materials, fuel, utilities and transportation. While there has been no change in list prices on these impacted items since December 2004, over this period costs have continued to rise.
"Our primary business objective is to win in the market place. As we implement this pricing action we will work with our customers to create programs which will drive retail takeaway," said Christopher J. Baldwin, Senior Vice President, President North American Commercial Group. "Given the mid-year timing of this pricing action and our commitment to planned consumer and customer promotions and merchandising events, we expect minimal financial impact from the pricing in 2007."
