Cost-cutting boosts 2Q for Hershey
second-quarter earnings forecast amid cost cutting and anticipated
demand for the Halloween and back-to-school seasons, reports CBS
Marketwatch.
US confectionery group Hershey Foods on Tuesday sweetened its second-quarter earnings forecast amid cost cutting and anticipated demand for the Halloween and back-to-school seasons, reports CBS Marketwatch.
Hershey said it expects earnings from operations to be "above range" and also reaffirmed its expectations for 9 to 11 per cent growth in earnings from operations in 2002.
Analysts polled by Thomson Financial/First Call are currently looking for earnings of 43 cents a share in the June period.
The stock rose 2 per cent to $63.39 and the company plans to release its second-quarter results on 23 July.
Hershey has sold off some of its non-core brands and is spending more on marketing and promoting its traditionally-strong brands like Hershey's Kisses and the Kit Kat Bar, the report continues.
