The Hershey Co. (Hershey, Pa.) reports net sales grew 10.7 percent in the first quarter ended April 1, 2012. Consolidated net sales were $1.7 billion compared with $1.5 billion for the first quarter of 2011.
“Hershey’s strong start to the year is the result of our continued strategy of disciplined investment in core brands in both the U.S. and key international markets,” says John Bilbrey, president and ceo.
The company says the period benefited slightly from an early Easter. In the channels measured by syndicated data, U.S. market share was the same as the comparable year ago period and in line with company expectations. The company expects a full-year net sales growth of about 7 to 9 percent.
“We are off to a good start to the year despite the challenging economic environment,” Bilbrey says. “Advertising, new products, merchandising and programming, and focused in-store retail execution will continue throughout the year. This will keep us on track with our projections and help mitigate declines due to price elasticity.”