Hershey Stays Focused On Core Innovations

The Hershey Co. increased net sales 4.2 percent in the third quarter, and points to its multi-year growth strategy for continuing the momentum in sales and earnings. Releasing the company’s quarterly results, President and CEO David West states: “While global economic uncertainty and challenges persist, confectionery remains one of the better-performing categories. In the third quarter, Hershey’s net sales were driven primarily by U.S. core brand volume growth, including new products.” Sales for the quarter ended October 3 were $1.5 billion, compared with $1.4 billion for the same period in 2009. The company says its investments in core brands and improved inventory management also boosted quarterly performance. In addition, West says he expects the fourth quarter to be positive and contribute to full-year net sales growth of about seven percent.