Hershey Warns There Will Be A Halloween And Holiday Candy Shortage [Grab Deals Now]
Hershey has given out some news ahead of the all-important Halloween and Christmas holiday seasons, and it isn’t sweet.
Chief Executive Officer Michele Buck said the firm “will not be able to fully meet consumer demand” for Halloween and holiday products, and would lead to a likely shortage of Hershey candy during Halloween. Hershey’s everyday and holiday products use the same manufacturing lines, so Hershey made the tough decision focus on everyday treats. Buck is blaming pandemic-induced global supply chain disruptions and the Russia-Ukraine war for reducing supplies of cocoa, edible oil and other food ingredients, causing disruptions on production lines of packaged food companies all over the world. Hershey sources many of its supplies and equipment in Germany. “We had the opportunity to deliver more Halloween, but we weren’t able to supply that. And we were really producing.”
This is a significant announcement. Hershey’s makes up about 10% of the company’s annual sales during the period from October’s Halloween sales through the holidays, as kids and their parents stock up on favorites to fill trick or treat bags and stockings.
Even in the midst of all this, Hershey is doing well. Hershey’s net sales rose over 19% to $2.37 billion in the quarter ended July 3, beating analysts’ estimates of $2.22 billion, according to IBES data from Refinitiv. The 128-year-old company said it now expects net sales to grow between 12% and 14%, compared with 10% to 12% estimated earlier – boosted by higher prices. “Historically, Hershey’s sales growth has been driven by higher prices and not necessarily volume. The company is entering this period from a position of strength with that expertise,” CFRA Research analyst Arun Sundaram said.
They are not alone. Swiss food giant Nestle said it had increased prices by 6.5% in the first half of this year. Nestle boss Mark Schneider said price increases were made to limit “the impact of unprecedented inflationary pressures and supply chain constraints” and Nestle had put up its prices again because of “unprecedented” costs.
Did you know that chocolate freezes really well?
If you can combat the temptation to eat it, grab some bags now and store them till Halloween. Just make sure you move the bags from freezer to fridge the day before filling the candy bowl. This keeps the chocolate from developing condensation.
You should also consider handing out non candy Halloween treats. We offer kids both candy and non candy, and the kids of all ages LOVE the non candy treats. Here are some of the hits:
- Glow Sticks
- Glow Rings
- Finger Lights
- Slap Bracelets
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