Latest news with #Kisses
Yahoo
20 hours ago
- Business
- Yahoo
Strong Easter and Pre-Halloween Sales Boost Hershey Results, But Tariffs Loom
Key Takeaways Hershey beat profit and sales forecasts on Easter and pre-Halloween demand. The chocolate, candy, and snack maker's volume was up 21% Hershey sees full-year tariff costs of $170 million to $180 million, and lowered its earnings (HSY) shares advanced Wednesday when the snack giant posted better-than-expected results as customers loaded up on treats during the Easter holiday and ahead of Halloween. However, it lowered its outlook on tariff costs. The maker of Kisses chocolate, Good & Plenty candy, and SkinnyPop popcorn reported second-quarter adjusted earnings per share (EPS) of $1.21 on revenue that jumped 26% year-over-year to $2.61 billion. Analysts surveyed by Visible Alpha had expected $1.03 and $2.54 billion, respectively. The company noted that volume increased by 21 percentage points, which was driven by "planned inventory decreases within the North America Confectionery and International segments after our ERP system implementation in the second quarter of 2024, the timing of the Easter season in 2025 versus 2024, and earlier shipment of Halloween seasonal orders versus the prior year." ERP, or Enterprise Resource Planning system, is software to manage business processes. Adjusted gross margin of 38% was down 510 basis points from 2024, as Hershey dealt with soaring chocolate costs. However, the decline was partially offset by price hikes. CEO Michele Buck said the company was pleased with the results and momentum, and it has taken "pivotal steps toward mitigating cocoa inflation through strategic pricing, enhanced productivity, and technology enabled efficiency and speed." Hershey anticipates full-year tariff expenses to be $170 million to $180 million, and reduced its full-year adjusted EPS guidance growth from down mid-30% to down 36% to 38%. Shares of Hershey rose 4% soon after the opening bell to trade at their highest level since last December. Read the original article on Investopedia Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
23-07-2025
- Business
Hershey to increase prices on chocolate candy amid rising cocoa costs, supply hurdles
Hershey has some bitter and not-so-sweet news for chocolate fans: The famed candy brand will be raising its prices due to high cocoa costs and supply issues. The Pennsylvania-based chocolate company has not stated how much more customers may pay, but confirmed this week that the hikes will be in the "low double-digits." "This change is not related to tariffs or trade policies. It reflects the reality of rising ingredient costs including the unprecedented cost of cocoa," a Hershey spokesperson said in a statement. Cocoa prices, which hit a record 50-year high earlier this year in February, have been exacerbated by supply problems. Diseases have purged cocoa crops in West Africa, which produces the vast majority of the world's cocoa beans, and a poor growing season caused production to plummet, leading to a spike in prices. Hershey manufactures several beloved candies including Reese's Peanut Butter Cups, Kit Kat Bars, Hershey's Kisses, and multiple varieties of Hershey's chocolate bars. The company told ABC News the first bump in prices could hit consumers in about 90 days, just 10 days before the Halloween rush on candy.
Newsweek
23-07-2025
- Business
- Newsweek
Hershey's Price Hike Explained
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The Hershey Company plans on raising its prices to cope with the "unprecedented" costs of cocoa. The company, known for Reese's Peanut Butter Cup as well as its signature milk chocolate and Hershey's Kisses, confirmed the change to various media outlets this week. Hershey said that persistently high cocoa prices had forced it to raise prices by a "lower double-digit" percentage. Newsweek has contacted the company via its website outside of regular business hours for comment. Why It Matters Hershey is one of the largest chocolate companies in the U.S. by both market share and sales, which reached over $11.2 billion last year. But global cocoa prices have rocketed in recent years due to a worldwide supply shortage stemming from a combination of factors including weather conditions and disease outbreaks in West Africa, where much of the world's cocoa is grown. Cocoa prices on the New York commodities market are three times as high as they were in 2022. The company has not confirmed the exact price increases it will be putting in place, nor which specific products will be affected, but the change will likely effect many of the chocolate bars that Americans purchase most frequently. What To Know Hershey said it informed its retail customers last week that it would be making the change. The company previously announced pricing actions last August, after outgoing CEO Michele Buck said the high costs of cocoa would significantly hurt the company's bottom line. This was prior to another surge in cocoa prices later in 2024. According to data from TradingView, cocoa futures rose nearly 170 percent over the year, peaking at more than $12,000 in mid-December. Hershey's chocolate bars are shown on July 16, 2014 in Chicago, Illinois. Hershey's chocolate bars are shown on July 16, 2014 in Chicago, Illinois. Photo Illustration byCocoa futures and prices have adjusted, the latter currently trading at around $8,100 per metric ton, though these still remain more than double the levels of just two years ago. In its 2024 annual report, released in February, Hershey predicted that high cocoa prices would "put significant pressure on 2025 earnings." Hershey told news outlets this week that the price increases were "not related to tariffs or trade policies," but rather reflected "the reality of rising ingredient costs including the unprecedented cost of cocoa." In an earnings call in May, Hershey said it anticipated between $15 million and $20 million in "tariff expenses" in the second quarter of this year. What People Are Saying A spokesperson for Hershey told CNN the price hike "reflects the reality of rising ingredient costs including the unprecedented cost of cocoa." "We've worked hard to absorb these costs and continue to make 75% of our product portfolio available to consumers for under $4.00," they added. What Happens Next? Hershey has not specified when the price increases will come into effect. During the May earnings call, Hershey's CEO said cocoa production was expected to rebound in the year. "There are reasons to believe that this year's crop marks the beginning of a multi-year growth cycle in cocoa supply," said Buck. She is set to retire in August, to be succeeded by Wendy's CEO Kirk Tanner.
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GMA Network
14-07-2025
- Entertainment
- GMA Network
Kisses Delavin pursues ballet in New York's Martha Graham School
Kisses Delavin has been spotted on a New York City stage! After keeping a low profile following her Miss Universe Philippines 2021 stint, the former celebrity has gone viral over the weekend after video and photos of her performing ballet circulated on social media. Kisses performed at the 2025 Spring Showcase of the prestigious Martha Graham School. She was part of the beginners students' performance workshop class and performed a dance that was dedicated to Emily Dickinson with music by Hunter Johnson. The video was uploaded on YouTube in May and has since earned 10,636 views as of writing. Located in Manhattan, the Martha Graham School is known globally as a premier institution for modern dance, focusing on the techniques and repertoire pioneered by dance legend Martha Graham. According to the website, the Martha Graham School is the oldest professional school of dance in the United States. Kisses represented Masbate in Miss Universe Philippines 2021 and finished in the Top 10. She received high praise from Miss Universe 2015, Pia Wurtzbach, along with fellow beauty queens Rabiya Mateo and MJ Lastimosa. Watch Kisses perform at the 28th minute mark. — Hermes Joy Tunac/LA, GMA Integrated News
NDTV
09-07-2025
- Business
- NDTV
Wendys CEO Kirk Tanner Steps Down From His Role, Will Head Hershey Now
Wendy's is a popular fast food joint, famous for its burgers, frosty desserts, chicken sandwiches and more. The burger chain is undergoing a major change as CEO Kirk Tanner has stepped down from his role and will be joining chocolate giant Hershey. For the unversed, Hershey is well-known for products like chocolate sauce, chocolate bars, Hershey's Kisses and Reese's Peanut Butter Cups. Earlier in January, Hershey announced that the current CEO, Michele Buck, who had been CEO for over seven years, would retire in 2026 and would transition to a senior advisor role. Tanner leaves at an inopportune time for Wendy's as the company is grappling with muted sales, with macroeconomic volatility pushing more people to eat at home, reports the New York Post. Tanner will depart Wendy's on July 18, the burger chain said in a statement, adding that it has appointed its CFO, Ken Cook, as interim chief. Tanner will take over Hershey on August 18. He was previously a top executive at PepsiCo before moving to head Wendy's in February 2024. As for who will be the new CEO, Wendy's said it has launched a comprehensive search process to select a permanent CEO, and is set to report its second quarter results on August 8. Both food companies are currently navigating choppy waters. Wendy's stock is down nearly 31% this year. Industry experts note that the burger chain has underperformed key peers in recent months, suggesting any initiatives to reinvigorate growth have not yet gained meaningful traction. On the other hand, Hershey is currently dealing with higher tariff-related costs and high cocoa prices amid growing uncertainty around consumer spending. Hershey is expected to report its earnings on July 30.
