Hershey, PA — During its second quarter, The Hershey Co.’s consolidated net sales declined 3.4 percent, while organic, constant currency net sales were down around the same rate, the candymaker reports.
While the pandemic hampered overall sales during the period, sales in the U.S. and Canada increased 1 percent year-on-year. Additionally, Hershey’s retail take away for the period increased 3.2 percent, while baking items, including peanut butter, syrup, chips and cocoa, saw sales grow 41 percent, according to the company.
While there was a challenging environment in the first half of the year, Hershey anticipates sales to accelerate for the rest of 2020 based on existing momentum.
However, because of recent spikes in coronavirus cases and the impact on consumer mobility, retail operations, government regulations and the macroeconomic environment, the company reports it will not provide new fiscal guidance for the remainder of 2020.