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Hershey Co (HSY.N)

HSY.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Hershey announces 5-year extension with CBS Sports, Turner Sports and NCAA
Tuesday, 7 Mar 2017 09:00am EST 

Hershey Co :Announced a five-year extension with CBS Sports, Turner Sports and NCAA to continue its role as "official confectionery partner".  Full Article

Hershey CEO says to cut back on distribution levels in 2017 compared with 2016
Wednesday, 1 Mar 2017 10:18am EST 

Hershey Co at Analyst Day Conference : CEO Michele Buck at analyst conference-"we believe M&A will play an important role in diversifying our portfolio going forward" . CEO Michele Buck at analyst conference- company's 2017 distribution will not be at same levels as 2016 . CEO Michele Buck- will reset international investment; expect about half of margin for growth dollar savings to be in international . CEO Michele Buck at analyst day- will reverse the trend of increasing SG&A expenses, cut cost of goods sold . Hershey CEO Michele Buck- China business will undergo transformation over next three yrs; expect to streamline business, remove low velocity SKUs . CEO Michele Buck-expect international operating income trend to grow meaningfully and believe it will be in the black soon . CEO Michele Buck-co will now focus more on snacking products than confectionary; will seek M&A in snacking category . CEO Michele Buck- in 2017, Co's focus will be on building brand awareness of core products . Hershey-Now expect to grow topline in 2-4 percent range annually from prior forecast of 3-5 percent; sales growth will be at lower end of long term targets . Hershey CEO Michele Buck - no change to long term EPS growth forecast with growth expected to be at upper end . Hershey CEO Michele Buck - expect to expand operating income margins to 22-23 percent in 2019 from 20.4 percent in 2016 from cost saving initiatives.  Full Article

Hershey to reduce its global workforce by about 15 pct
Tuesday, 28 Feb 2017 04:30pm EST 

Hershey Co : Hershey details strategy for continued growth . Hershey Co says margin for growth" program expected to enable investments in business model and generate about 22% to 23% adjusted operating profit margin by year end 2019 . 2017 reported earnings per share-diluted expected to be in $3.19 to $3.45 range . Outlook for 2017 net sales and adjusted earnings per share-diluted reaffirmed . Hershey Co sees FY 2017 adjusted earnings per share-diluted expected to increase 7% to 9% and be in $4.72 to $4.81 range . Says anticipates that program will result in total cumulative pre-tax charges of $375 million to $425 million . Estimates that implementation of program will reduce its global workforce by approximately 15% . Says charges include one-time employee separation benefits of $80 million to $100 million . Cash savings are expected to reach an annual run-rate of between $150 million to $175 million by year end 2019 . Hershey Co says portion of non-cash program costs, included in aforementioned total, are expected to be between $200 million to $225 million . Hershey Co says updates long-term constant currency net sales growth target to 2 percent to 4 percent .Fy2017 earnings per share view $4.79, revenue view $7.61 billion -- Thomson Reuters I/B/E/S.  Full Article

Michele Buck announces Hershey executive team
Thursday, 23 Feb 2017 04:30pm EST 

Hershey Co - : Michele Buck announces Hershey executive team . Hershey Co - Todd Tillemans, Join Hershey on April 3 to lead company's flagship U.S. business including core confection . Hershey Co - Steven Schiller, currently president, China & asia is named president, international. . Hershey Co - chief knowledge and technology officer Waheed Zaman will retire from company effective March 31 .Hershey Co - Hershey Company has undertaken a search for a chief growth officer.  Full Article

Hershey reports Q4 earnings per share $0.55
Friday, 3 Feb 2017 08:05am EST 

Hershey Co : Hershey announces fourth-quarter and full-year 2016 results; provides 2017 outlook . Q4 earnings per share $0.55 . Q4 sales $1.97 billion versus i/b/e/s view $1.98 billion . Hershey Co says unfavorable foreign currency exchange rates a 0.5 point and 0.7 point headwind in Q4 and full year, respectively . Sees FY 2017 adjusted earnings per share $4.72 to $4.81 . Sees FY 2017 earnings per share $4.54 to $4.65 . Sees FY 2017 sales up 2 to 3 percent . Hershey Co says brands responded positively to halloween and holiday investments and co gained 0.3 market share points in each season . Hershey Co says "international macroeconomic challenges persist, especially in China, and we expect a slow start to year in that segment" . Hershey -estimate 2017 net sales growth of 2pct to 3pct, including net benefit from acquisitions of about 0.5 points . Hershey Co says in 2017, company anticipates its effective tax rate to be between 28.5% and 29.0% . Hershey Co says anticipates 2017 adjusted earnings per share-diluted to increase 7pct to 9pct and be in $4.72 to $4.81 range . FY2017 earnings per share view $4.64, revenue view $7.63 billion -- Thomson Reuters I/B/E/S . Hershey Co says north america net sales were $1,690.1 million in Q4 of 2016, an increase of 3.8pct versus same period last year . Hershey Co says Q4 china net sales slightly below forecast due to challenges in modern trade that persist given current macroeconomic environment.  Full Article

Hershey announces quarterly dividends of $0.618 on common stock
Friday, 3 Feb 2017 07:05am EST 

Hershey Co - :Quarterly dividends of $0.618 on common stock and $0.562 on class B common stock.  Full Article

Hershey's appoints Michele Buck as president and CEO
Wednesday, 21 Dec 2016 04:01pm EST 

Hershey Co - : Buck will succeed John P. Bilbrey, who previously announced his intention to retire from company . Michele Buck, currently company's executive vice president and chief operating officer, as Hershey's next president and CEO effective March 1, 2017 . Bilbrey will continue as non-executive chairman of Hershey's board of directors following his retirement as president and ceo .Michele Buck appointed president and CEO of the Hershey company, effective March 1, 2017.  Full Article

Hershey CEO- Expect FY capex to be at low end of $265 mln-$275 mln range
Friday, 28 Oct 2016 09:25am EDT 

Hershey : CEO on conf call - given uncertain outlook in international markets over near term, will continue to assess investment mix across the enterprise . CEO on conf call - Q3 net sales in India declined versus year-ago period due to discontinuance of the edible oil business . CEO on conf call - in China the modern trade hyper market environment continues to be challenging . Estimate that our e-commerce business has about 10 percent share of market in China, look to build on that, driven by singles day in november . CFO- expect advertising and related consumer marketing expense will increase in fourth quarter . CFO- total advertising and related consumer marketing expense declined about 9.6 percent in third quarter . CFO- 2016 China gross sales forecast to decline, but net sales expected to increase as don't anticipate same level of direct trade, returns, discounts allowances as last year . CFO- expect full-year capex to be at low end of our $265 million to $275 million range . COO- snacking is growing faster than total food market and within that seeing a lot of growth in indulgent snacking, "think it's a real opportunity" . Taken over from Brazil JV, now have control over our distribution there and seeing great results from that, even given difficult operating environment . CEO- think people across all income levels beginning to spend a little bit more confidently than they have before.  Full Article

Hershey reports Q3 adjusted eps $1.29 excluding items
Friday, 28 Oct 2016 07:36am EDT 

Hershey Co - : Hershey announces third-quarter results . Hershey announces third-quarter results . Q3 SHR $1.06 . Q3 sales $2.004 billion versus i/b/e/s view $1.99 billion . Q3 earnings per share view $1.18 -- Thomson Reuters I/B/E/S . Hershey co - outlook for 2016 net sales and earnings per share-diluted updated . Sees fy 2016 earnings per share $3.82 to $3.90 including items . Sees fy 2016 sales up about 1 percent . Hershey co - full-year net sales expected to increase around 1% . Fy2016 earnings per share view $4.26 -- Thomson Reuters I/B/E/S . Hershey co says additionally, company continues to expect fy gross margin to be slightly below last year due primarily to unfavorable sales mix . Fy2016 earnings per share view $4.26, revenue view $7.45 billion -- Thomson Reuters I/B/E/S . Hershey co says fy business productivity and cost savings programs are on track . Hershey co - impact of unfavorable foreign currency exchange rates is expected to be about 0.75 points on fy net sales . Hershey - impact of unfavorable foreign currency exchange rates is expected to be about 0.75 points versus previous estimate of around 1 point on fy net sales . Hershey co - continues to expect fy gross margin to be slightly below last year due primarily to unfavorable sales mix . Hershey co says in q3 of 2016, china chocolate category retail sales declined about 4.0%.  Full Article

Hershey declares quarterly dividends of $0.618 on common stock
Friday, 14 Oct 2016 04:13pm EDT 

Hershey Co :Quarterly dividends of $0.618 on common stock and $0.562 on class B common stock.  Full Article

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Hershey and its trust tap new board members

Hershey Co and the trust that control it disclosed on Thursday they would fill positions on their respective boards following a year marked by an acquisition overture from Mondelez International Inc and a series of resignations.