​Americans Can’t Even Afford Chocolate: Hershey Sales Crater, Guidance Melts – Tyler Durden

Americans Can’t Even Afford Chocolate: Hershey Sales Crater, Guidance Melts The stock of iconic US chocolate maker Hershey tumbled after the company slashed its sales and earnings outlook for the year as shoppers continue to reduce purchases of higher priced chocolates and candies. The maker of Reese’s and Dot’s Pretzels said Thursday that it now expects net sales growth to be around 2%, from the previous range of 2% to 3%, and that adjusted earnings per share will be “down slightly”” from unchanged before. Q2 sales plunged 17% to $2.07 billion, sharply missing the $2.31 billion estimate. Adjusted EPS of $1.27 per…  — Continue at ZeroHedge News : Read More