Hershey Increases Prices
The Hershey Co. increased wholesale prices on roughly one-third of its domestic confectionery line by approximately 4 percent to 5 percent.
The price of the company's standard bar, king-size bar, six-pack and vending lines were increased last week. Hershey said the increase will offset its input costs, including raw and packaging materials, fuel, utilities and transportation.
There as been no change in list prices on these impacted items since December 2004, the company noted in a statement.
"Our primary business objective is to win in the market place. As we implement this pricing action we will work with our customers to create programs which will drive retail takeaway," said Christopher J. Baldwin, senior vice president, president North American Commercial Group. "Given the mid-year timing of this pricing action and our commitment to planned consumer and customer promotions and merchandising events, we expect minimal financial impact from the pricing in 2007."
The price of the company's standard bar, king-size bar, six-pack and vending lines were increased last week. Hershey said the increase will offset its input costs, including raw and packaging materials, fuel, utilities and transportation.
There as been no change in list prices on these impacted items since December 2004, the company noted in a statement.
"Our primary business objective is to win in the market place. As we implement this pricing action we will work with our customers to create programs which will drive retail takeaway," said Christopher J. Baldwin, senior vice president, president North American Commercial Group. "Given the mid-year timing of this pricing action and our commitment to planned consumer and customer promotions and merchandising events, we expect minimal financial impact from the pricing in 2007."