Hershey: Price Increases Won't Keep Up With Historically High Cocoa Costs

Hershey expects the surge in cocoa prices to continue to outpace the company’s price increases on its chocolate products.As a result, the company expects to see its adjusted gross profit margin contract this year, Hershey Senior Vice President and Chief Financial Officer Steve Voskuil said Thursday (Feb. 6) in prepared remarks for the company’s quarterly earnings call.“Historically high cocoa prices, sugar and other raw material inflation, along with incremental labor inflation, new tariffs and negative pro ...