On August 15, 2008, The Hershey Company announced a 10% price increase due to the growing costs of such products as cocoa, sugar and peanuts.Wall Street Journal: Hershey Raises... (August 18, 2008) This is the second increase in 2008. The first was enacted in January, when one-third of the company's sweets experienced a 13% advance in price. Hershey added that it still expects a three to five percent growth in net sales in 2009.Wall Street Journal: Hershey Raises... (August 18, 2008)
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References
Fast Facts
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Fact:
In 2008, Hershey estimated earnings of $1.85 to $1.90 per share, with the lower end expectation appearing more feasibleMarketWatch: Hershey boosts prices (August 15, 2008)
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Fact:
The company projects more price increases in 2009MarketWatch: Hershey boosts prices (August 15, 2008)
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Fact:
Hershey shares jumped over 25% during AugustMarketWatch: Hershey boosts prices (August 15, 2008)
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Affected products
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Fact:
Commodity prices have increased between 20% and 45%, according to Hershey's president David WestWall Street Journal: Hershey Raises... (August 18, 2008)
