Chocolate makers are reporting booming sales — thanks in part to demand from stressed out consumers.
Chocolate makers are reporting booming sales as stressed out customers reach for something sweet to take the edge off. In the third quarter, sales of Hershey’s\n \n chocolates, which include Reese’s, Kit Kat and Hershey bars, jumped 12.6% in retail. Mondelez\n \n , the global snack brand that makes Toblerone, Cadbury and others, said its chocolate sales grew 9.3% in the quarter. Chocolate, like many comfort foods, got a boost during the pandemic.
“We see consumers saying that chocolate is really something they cannot live without.” Hershey raised its net sales and earnings outlook for the year on November 4th, when it reported third-quarter results that exceeded its expectations. “Our products remain an affordable treat for families and for consumers,” said Hershey CEO Michele Buck during an analyst call. “We know that part of that is they want to reward themselves when times are tough. They also use these products to relieve stress.
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