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-0.0152197802197803 -0.0152197802197803 -0.0152197802197803 -5.4945054945005E-05 -5.4945054945005E-05 -0.010989010989011 -0.010989010989011 -0.010989010989011
Stock impact report

Hershey raising chocolate prices by double-digits as cocoa costs soar: report [FOX Business Network]

The Hershey Company (HSY) 
Last the hershey company earnings: 4/23 07:00 am Check Earnings Report
The Hershey Company is reportedly raising prices across its candy portfolio. Due to an "unprecedented" increase in the cost of cocoa, prices of the chocolate maker's products will rise by a percentage roughly in the double-digits, a Hershey spokesperson said Tuesday, according to Reuters The increase accounts for both a higher list price and changes to the weight and amount of candy in its products' packaging, Bloomberg News reported. "This change is not related to tariffs or trade policies," the spokesperson said in a statement. "It reflects the reality of rising ingredient costs, including the unprecedented cost of cocoa." Over the last two years, the cost of cocoa has increased significantly due to supply shortages in the Ivory Coast and Ghana. In May, Hershey CEO Michele Buck said the chocolate giant was working to make adjustments to pack size and pricing as a way to absorb increased expenses, Reuters reported. Hershey, which is in talks with its retail partners, declin Show less Read more
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