On July 14, Hershey Co. announced that it was raising prices of its products by 8 percent to “help offset part of the significant increases in Hershey’s input costs, including raw materials, packaging, fuel, utilities and transportation, which the company expects to incur in the future.”
In other words, Hershey – which also announced a 5.4 percent quarterly profit increase just days later – is immediately increasing prices for grocery shoppers to further boost revenues because it might see higher input costs in the future.
Hershey’s entrée into future telling appears to be fueling other big moves within Big Candy circles, too. Mars Chocolate North America told an industry trade publication on July 25 that it would increase prices by 7 percent.