Word: hershey
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Dates: during 2000-2009
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...only Swiss chocolate makers who are thriving while others are struggling. The recession-bucking trend is also reported by Cadbury, which is expecting to deliver a 4-6% growth in 2009, and by U.S. manufacturer Hershey, whose predicted net sales growth for this year is in the range...
...national security. McCain was back in Pennsylvania earlier this week, while Palin arrived for a series of appearances on Tuesday. Both are likely to visit again before Election Day. "It's wonderful to fool the pundits, because we're going to win in Pennsylvania," McCain told supporters in Hershey on Tuesday...
Chocolate is getting a makeover. With the commodity price of cocoa nearly doubling over the past year, Hershey's and Mars--which claim two-thirds of the U.S. chocolate market--have shifted focus from mass-market bars to upscale gourmet in order to shore up profit margins. That's bitter news for some: to cut costs, Hershey's recently replaced cocoa butter with vegetable oil in several products, which is why the labels on Mr. Goodbar, Milk Duds and Krackel now have to say things like "chocolatey" instead of "milk chocolate." But even as the king of American candy cheapens...
...help take high-end chocolate national, Hershey's bought organic chocolatier Dagoba as well as top-shelf artisans Scharffen Berger and Joseph Schmidt. Mars is trying to keep pace, launching deluxe Dove bars and premium M&Ms in flavors like raspberry almond for $4 a bag. Supermarket shoppers can now select their sweets on the basis of preferred percentage of cacao (the mod way to refer to cocoa content): from Hershey's Cacao Reserve (35%) to its Scharffen Berger Extra Dark...
Logically, it made Cadbury and Hershey potential merger partners. Indeed, Cadbury has had on-and-off merger talks with Hershey for more than a decade and even teamed with Nestlé in a failed $10.5 billion bid for Hershey in 2002. The latest talks occurred in 2007 between Stitzer and then Hershey CEO Richard Lenny. But Lenny was ousted from Hershey in an ugly shake-up later in the year. Hershey continues to stumble--most recently when it raised prices 10% in response to rising costs, a move that hit its stock hard...