Hershey's Sweet Fare Continues to Win With Consumers, Despite Broad-Based Cost Pressures

While consumers are facing mounting costs in a number of facets of their lives, this has yet to tame their appetite for confectionery and snacking fare, as evidenced by the double-digit sales growth Hershey has chalked up the past few quarters. But from our vantage point this isn't merely a byproduct of a favoarable demand environment. Rather, we applaud the strategic focus CEO Michele Buck has brought to bear over the past five years--ramping up investments in its core domestic brands while pulling back in its international arm (high-single-digit percentage of total sales, where we surmise it lacks a competitive edge).