Higher grocery store prices don’t seem to be tempering the nation’s collective sweet tooth, with The Hershey Company reporting sales that rose nearly 13% in its latest quarter, as Americans increasingly turn to sweet treats for an affordable pick-me-up.
The 128-year-old food co. behind Twizzlers, KitKats, Jolly Ranchers, SkinnyPop, Reese’s, and of course their own iconic offerings such as Kisses, has been a remarkably consistent performer over the last 30 years. Through recessions, market crashes and pandemics, Hershey’s has grown steadily — and the business now looks sweeter than ever, with management expecting revenues to blow past $10bn for this fiscal year.
Chocolate and candy got a boost during the pandemic, but unlike so many things that have since returned to normal, demand for the cocoa confection hasn’t gone anywhere. Food giant Mondelez, owner of Toblerone and Cadbury, reported similarly — with chocolate sales rising 9% in its most recent quarter.
They say there’s a smile in every Hershey bar. Happily for Hershey execs, that's never been more true.