Hershey is hoping that the introduction of a new candy, as well as a spike in prices, will boost its numbers.
The company announced plans to raise prices earlier this year, citing increasing operational costs and higher freight and logistics expenses. Chief Financial Officer Patricia Little said she doesn’t expect that to change in 2019, per CNN.
Prices for about 20 percent of the company’s products will increase by 2.5 percent, beginning next year.
Hershey also announced its plans for a Reese’s cup that’s slimmer than the original. Reese’s Thins will be launched in both milk and dark chocolate in March 2019, writes Caitlin Muller a Bizwomen contributor for the Philadelphia Business Journal.
The hope is that new products — including Hershey’s Gold, which the company calls a caramelized creme bar with peanuts and pretzels inside, and Reese’s Outrageous, a peanut butter-chocolate bar containing caramel and Reese’s Pieces candy — will help drive sales.
A Hershey bar filled with Reese’s Pieces and hot cocoa-flavored Hershey’s Kisses are next to debut, later this year, per Business Insider. Packaging also will be redesigned, Reuters reports.
Catering to the varied candy cravings of its consumers has helped keep Pennsylvania-based Hershey among the top companies for customer satisfaction.
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