Hershey is planning 'list price increases across all segments' as a way to drive sales growth.
"Pricing will be an important lever for us this year and is expected to drive most of our growth," Hershey CEO Michele Buck said in prepared remarks discussing the company's financial results Thursday.
And Hershey's sales growth didn't stop in 2020. Last year, retail sales of the company's top candy brands grew more than 12% on average, Buck said. And Hershey's snack brands also performed well last year. Skinny Pop's retail sales grew 22%, and Pirate's Booty sales jumped more than 26%.
"Historically, our category has successfully been able to execute price increases and we expect that to be the case this year as well," said Buck.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon is raising the price of Prime to $139 per year | EngadgetAmazon is hiking the price of Prime to $139 per year starting February 18th for new customers..
Read more »
Amazon is raising the price of annual Prime memberships to $139Amazon is raising the price of its annual Prime subscriptions from $119 to $139 per year, the company announced along with its earnings report. The price of a monthly subscription will also increase from $12.99 to $14.99.
Read more »
52 Best Chocolate Cake Recipes to Make Any Week a Better WeekSo you can make a different chocolate cake every week of the year.
Read more »
Starbucks to raise menu prices to offset inflationThe Seattle-based coffee franchise had already raised prices — once in October 2021 and December 2021 — but inflation woes and labor issues have forced the company to hike prices once again.
Read more »
Starbucks steadily raising prices to mitigate cost, inflation and wage increasesSEATTLE - Starbucks has been steadily raising prices but customers don't seem to mind. The coffee chain raised prices in October and again in January, but Starbucks says this hasn't deterred customers. In the last three months, sales jumped 18 percent in North America and 13 percent globally. Starbucks said it hopes the trend continues and it also expects to raise prices again later this year. The company says the new prices help mitigate cost pressures, including inflation and increased wages.
Read more »
BRC: UK retailers raise prices at fastest pace since 2012According to the latest report published by the British Retail Consortium (BRC), the UK retailers hiked their prices to the highest levels in more tha
Read more »