Hershey cuts yearly guidance, profit after steep 17% drop in sales

Hershey slashed its yearly profit and sales guidance on Thursday after reporting a 17% drop in second-quarter sales.Shares plunged 4.5% early Thursday morning before jumping back up 5%.The Pennsylvania-based candy company – with a market capitalization of $38.83 billion – struggled with a consumer pullback on spending amid sticky inflation, like many others in the food and snack industries. 3 Hershey slashed its yearly profit and sales guidance on Thursday after reporting a steep drop in sales. Christophe ...