Hershey a ‘melting giant,’ says The Bear Cave in new report

Hershey is a “melting giant,” The Bear Cave contends in a new report. For the twelve months ending December 2023, Hershey disclosed a roughly 2% volume decline for its North America Confectionery segment, offset by price increases of ~9%, driving ~7% total sales growth, it said, adding that in Q4, volume declines for Hershey’s North America Confectionery segment were roughly 5%. In Hershey’s February press release for its Q4 results, Hershey said the volume declines in North America Confectionery were “related to price elasticity in everyday candy,” but The Bear Cave notes that no analysts have publicly questioned Hershey management about competition from Feastables.