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Hershey Co. gets sweet break for Q2

BY Allison Cerra

HERSHEY, Pa. The Hershey Co. announced sales and earnings for the second quarter ended July 5.

Sales were $1.17 billion, up 5.9% from last year. Second-quarter net income was approximately $71.3 million, or 31 cents per share, compared with $41.5 million, or 18 cents per share for the comparable period of 2008.

For the first six months of 2009, consolidated net sales were $2.41 billion, compared with $2.27 billion for the first six months of 2008. Reported net income for the first six months of 2009 was $147.2 million, or 64 cents per share, compared with $104.7 million, or 46 cents per share, for the first six months of 2008.

Hershey president and CEO David West said that the company’s performance during the first half of the year will give it the opportunity to increase brand-building advertising, which is what contributed to the spike in earnings.

Earlier this month, the company announced that it was closing its online gift service.

Click here for the full financial results.

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Coca-Cola Co. reports strong Q2 earnings

BY Anna Mcgrath

ATLANTA Coca-Cola Co. reported a strong set of results during the second quarter 2009, with strong worldwide unit case volume growth of 4% in the quarter and 3% year-to-date.

Coca-Cola Co. attributes their results to their Open Happiness campaign, which caused global volume and value share gains amongst most key markets and categories.

“We continue to deliver solid operating performance,” said Muhtar Kent, Coca-Cola Co.’s chairman and CEO. “In the first half of the year, we delivered volume and profit results in line with our long-term growth targets, despite very challenging global economic conditions. We outperformed the nonalcoholic ready-to-drink industry in most of our key markets and drove further global volume and value share gains. And, with our disciplined approach to productivity initiatives, we remain on track to achieve our $500 million target in annualized savings by 2011 and expect to deliver more than half of the savings by the end of this year.”

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Sunsweet introduces its new Philippine Pineapple

BY Anna Mcgrath

YUBA CITY, Calif. Sunsweet Growers presents its Philippine Pineapple, the latest addition to its dried-fruit line.

Unlike other brands, Philippine Pineapple is grown in elevated regions of the Phillippines, ranging from 2,000 ft. to 3,000 ft. The cooler temperatures add moisture to the product, making it an ideal location for growth.

“People are searching for healthy snacking alternatives and dried fruit is a treat that’s always smart to eat,” said Steve Harris, VP of marketing at Sunsweet Growers. “Not only is Philippine Pineapple great for a quick and convenient snack, it really does satisfy the most serious sweet tooth!”

Philippine Pineapple is now available at major retailers nationwide in a 6-ounce resealable bag for $3.99.

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