Hershey’s Announces Higher Prices
August 18, 2008 by Heather R.
Filed under Chocolate, Chocolate News
It was bound to happen (again!): Hershey’s announced last Friday that, effective immediately, it’s raising U.S. prices on its wholesale products by about 13%. They cited the higher cost of ingredients like cocoa, milk, corn sweetener, sugar and peanuts.
The mega-chocolate maker said its 2008 profit will be at the low end of its forecast range and they have cut sales growth projections for 2009, sending its shares down more than 4%.
This further cements my decision that if I’m spending the money on chocolate it’s going to a quality brand, which Hershey just hasn’t been for a while.
Do you think this will hurt or help Hershey’s?
[image: flickr]
