- Hershey (HSY +1.3%) posts an update on its business trends in a new SEC filing.
- "While we experienced a short-term increase in demand for some of our products at the onset of the pandemic, demand levels have since moderated," updates the company.
- "We continue to see declines in our food service, owned retail and world travel retail businesses as well as certain parts of our International businesses as a result of known shelter-in-place and other restrictions. We have also experienced a decrease in retail foot traffic and volatility in consumer shopping and consumption behavior across several areas of our portfolio, which has negatively impacted sales of our portable and on-the-go consumption products."
- In particular, Hershey says sales of gums and mints are down with fewer social gatherings across the globe. Some of the company's new on-the-go type snacks have also been hurt by the stay-at-home orders.
- SEC Form 8-K
- Previously: The Hershey Company announces debt offering (May 27)