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The Hershey Company, headquartered in Hershey, PA, is a global leader in the confectionery industry, renowned for delivering delicious chocolate, sweets, mints, and other snacks. Hershey has a rich legacy of over 120 years, driven by its mission of bringing goodness to the world. The company employs approximately 18,000 people globally who are dedicated to producing high-quality products every day.
With an impressive portfolio of more than 100 brands, including iconic names such as Hershey's, Reese's, Kit Kat, Jolly Rancher, and Ice Breakers, Hershey generates over $10.4 billion in annual revenues. The company's products are available in about 80 countries, though a significant portion of its sales is concentrated in North America. Hershey continues to expand its footprint in international markets such as Brazil, India, and Mexico.
Hershey is not only focused on its core confectionery business but is also diversifying into other snack categories. This includes acquisitions like Amplify Snack Brands, known for SkinnyPop, Pirate Brands, and Dot's Pretzels. These strategic moves are part of Hershey's efforts to provide a broader range of products and cater to evolving consumer preferences.
Financially, Hershey has shown robust performance, with strong net sales growth and gross margin expansion. The company has reaffirmed its sales outlook for 2024, driven by innovation and strategic investments. Hershey's recent initiatives include expanding capacity, improving supply chain efficiencies, and increasing brand investment to boost market share and meet consumer demand.
Environmental sustainability is a key focus for Hershey. The company has committed to achieving deforestation-free supply chains for key ingredients by 2025, enhanced by satellite monitoring partnerships to ensure compliance. It also engages in reforestation and forest conservation efforts, particularly in regions like Ghana and Côte d'Ivoire, to promote biodiversity and reduce greenhouse gas emissions.
Hershey continues to uphold its commitment to ethical business practices, sustainability, and community support, embodying the values set forth by its founder, Milton Hershey. The company is dedicated to making a positive impact on both a local and global scale.
The Hershey Company (NYSE: HSY) has been honored as a 2024 recipient of The Civic 50, a recognition of the top community-minded companies in the U.S. by Points of Light. Hershey secured the Consumer Staples leader title for the third consecutive year and received the Volunteer Leader Award for its exceptional volunteer culture and civic engagement.
In 2023, Hershey employees volunteered nearly 130,000 hours and raised over $1.6 million in matched giving. The company's community support spans education, workforce development, inclusive economic growth, and youth programs. The Civic 50 honors corporations with annual U.S. revenues of at least $1 billion, evaluating them on resource investment, volunteerism, business integration, policies, and impact measurement.
Hershey has been featured in The Civic 50 since its inception in 2012.
The KIT KAT® brand has introduced a new -edition flavor, KIT KAT® Pink Lemonade Flavored Bar, launching on May 17, 2024. This new variant combines the classic KIT KAT® wafer with a pink lemonade flavored creme that includes hints of strawberry. Targeting Gen Z and Millennials, the flavor aims to evoke a summer feeling and cater to the 93% of this demographic who prefer Pink Lemonade treats. Available in standard and king sizes, this addition continues KIT KAT's tradition of innovative flavors, joining variants like Chocolate Frosted Donut and Mint + Dark Chocolate.
The Hershey Company (NYSE: HSY) has achieved the number one spot on Fair360's 2024 Top 50 Companies list, unveiled at The Glasshouse in New York City. This list highlights companies excelling in fairness, diversity, and inclusion within their talent strategies and workplace practices. Hershey was particularly recognized for its Pathways framework, a 5-year plan to foster belonging in the workplace and community. The survey, involving 160 employers with 7.3 million U.S. employees, evaluated leadership accountability, human capital diversity, talent programs, workplace practices, supplier diversity, and philanthropy. The Hershey Company's commitment to these areas underscores its priority on inclusive programs supporting career advancement and development for all employees.
The Hershey Company (NYSE: HSY) has been recognized as a 2024 honoree of The Civic 50, an annual survey by Points of Light that highlights the top community-minded companies in the U.S. Hershey was also named the Consumer Staples leader for the third consecutive year and received the Volunteer Leader Award for prioritizing volunteerism. Highlights include Hershey employees volunteering nearly 130,000 hours and raising over $1.6 million in matched giving in 2023. Hershey’s community programs focus on education, workforce development, inclusive economic progress, and youth well-being. The Civic 50 survey evaluates companies based on their resource investment, volunteerism, and social impact initiatives.
The Hershey Company (NYSE: HSY) declared quarterly dividends of $1.370 on Common Stock and $1.245 on Class B Common Stock. The dividends are payable on June 14, 2024, to stockholders as of May 17, 2024. This marks the 377th consecutive regular dividend on Common Stock and the 158th consecutive regular dividend on Class B Common Stock.
The Hershey Company reported strong financial results for the first quarter of 2024, with a significant increase in net sales and earnings. The company reaffirmed its outlook for the full year 2024, emphasizing growth strategies and financial commitments. Investments in innovation, marketing, and efficiency have driven consumer engagement and market share performance. Despite recent business volatility, Hershey remains focused on long-term growth and value creation.
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