It's bad enough the price of gas is going up, now your chocolate Santa is gonna cost you more this holiday season! Hershey announced yesterday that the company will raise the price for lots of their favorite chocolate treats in 2021. Michele Buck, the CEO of Hershey Co. made the announcement yesterday, but did not disclose how much the price would rise for their holiday candy.
And it's not like the company hasn't been making money during the pandemic, quite the contrary, lots of folks have turned to the solace of chocolate in these difficult times. Hershey announced their year end revenue numbers, and it looks like they had a pretty decent 2020. Their net sales rose sales rose 5.7% to $2.19 billion in the fourth quarter, which is more than analysts’ anticipated.
In all fairness, Hershey has not increased the prices of their holiday chocolate treats since 2014. So this Christmas, plan to pay more for those bags of Hershey kisses, chocolate Santas, snowmen, reindeer etc.
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