Hershey Details Strategy for Continued Growth and Announces New Long-Term Net Sales and Earnings Targets; 2012 Outlook Reaffirmed
The Hershey Company (NYSE: HSY):
Five core brands - Hershey's, Reese's, Hershey's Kisses, Jolly Rancher and Ice Breakers – to become global cornerstones
Updated long-term targets announced; net sales and adjusted earnings per share-diluted growth of +5-7% and +8-10% established
Outlook reaffirmed for 2012:
Full year net sales expected to increase 7-9%, including Brookside acquisition
Reported earnings per share-diluted expected to be $2.82 to $2.92
Adjusted earnings per share-diluted expected to increase 10-12%
The Hershey Company (NYSE: HSY) today will announce initiatives designed to drive continued net sales and earnings growth at a Company-sponsored investor conference in New York.
“Our marketplace and financial results over the last few years validate our consumer-driven approach to core brand investment in both U.S. and key international markets,” said John P. Bilbrey, President and Chief Executive Officer. “We'll continue to invest in tools and capabilities that will drive core brand growth. We're excited about the insights we'll obtain from the additional work currently under way on Hershey's confectionery demand landscape that is focused on the individual segments of chocolate, non-chocolate candy and refreshment in the U.S. and key international markets. Our Insights Driven Performance initiative - or IDP - has been embraced by retailers who value the solutions-based methods that drive mutual growth for the confectionery category and Hershey. We are creating a knowledge-based company built on intellectual capital and consumer and shopper insights. This collaborative approach has unique features within the confectionery space and differentiates Hershey from its peers.
“Hershey's leadership team has worked closely with the Board of Directors this year on a comprehensive five-year strategic plan. We have a global organization that we're equipping with resources and tools to win in the marketplace and will invest and expand our five core brands – Hershey's, Reese's, Hershey's Kisses, Jolly Rancher and Ice Breakers – in a disciplined manner, around the world. We believe the strategies in place support our new long-term targets of organic net sales growth of 5 to 7 percent and adjusted earnings per share-diluted growth of 8 to 10 percent.
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