Big names in the packaged food industry, including Kellogg, Coca-Cola Co and Hershey, have hiked product prices multiple times over the past year to counter a jump in costs of everything from ingredients to transportation caused by supply chain snags that were compounded by the Russia-Ukraine war. Hershey has benefited from the price increases, boosting the chocolatier's bottom-line and margins, but it also saw a 2.7% decline in volumes. The Pennsylvania-based company now expects full-year adjusted profit per share to rise 11% to 12%, compared with its prior forecast of about 11% growth.
Hershey fell short of market
expectations for quarterly sales on Thursday, in a sign that
multiple rounds of price hikes were finally starting to leave a
mark on demand for the Reese s peanut-butter.
Hershey sweetens annual profit forecast even as demand wavers reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Conagra Brands Inc on Thursday forecast annual sales and profit below Wall Street estimates, in a sign that the packaged food giant was starting to face some pushback to higher prices from inflation-weary customers.
Conagra Brands Inc on
Thursday forecast annual sales and profit below Wall Street
estimates, in a sign that higher prices were starting to eat
into demand for the Slim Jim beef jerky maker s frozen.