Monday, June 25, 2012

Hershey (NYSE: HSY) sees $10 bln in sales by 2017

Hershey (NYSE: HSY) sees $10 bln in sales by 2017Northern, WI 6/25/12 (StreetBeat) -- The Hershey Co. (NYSE:HSY) on Monday said it is now targeting $10 billion in net sales by the end of 2017. The company will be focusing on five core brands globally - Hershey's, Reese's, Hershey's Kisses, Jolly Rancher and Ice Breakers - as part of a new strategy. "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 CEO John Bilbrey in a statement.

The chocolate maker also said it now expects long-term net sales growth of 5% to 7% and adjusted earnings per share growth of 8% to 10%. For fiscal 2012, Hershey reaffirmed its outlook for full-year net sales growth of about 7% to 9% and earnings per share in the range of $2.82 to $2.92. Wall Street analysts expect Hershey to earn $3.13 a share, according to a survey by FactSet.

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