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Barron’s,”” The Hershey Company, which derives two-thirds of its U.S. sales from chocolate, raised the price of its products by 6.5% in the fourth quarter from a year ago. Hershey expects historic cocoa prices to limit earnings growth this year, and higher sugar and butter costs could raise prices further.
What’s Next: Hershey has been adding salty snacks such as pretzels and popcorn to its offerings to diversify its revenue, while retailers such as Walmart have reduced their shelf space for chocolates to make room for snacks that sell better, Morgan Stanley analyst Pam Kaufman wrote.“
