HERSHEY, Pa. -- The Hershey Co. announced initiatives designed to drive continued net sales and earnings growth at a company-sponsored investor conference in New York.
"Our marketplace and financial results over the last few years validate our consumer-driven approach to core brand investment in both U.S. and key international markets," said John P. Bilbrey, president and CEO. "We'll continue to invest in tools and capabilities that will drive core brand growth.”
The work at Hershey includes projects focused on the individual segments of chocolate, non-chocolate candy and refreshment in the United States and key international markets.
“Our Insights Driven Performance initiative--or IDP--has been embraced by retailers who value the solutions-based methods that drive mutual growth for the confectionery category and Hershey,” Bilbrey said. “We are creating a knowledge-based company built on intellectual capital and consumer and shopper insights.”
The “collaborative approach” has features within the confectionery space that differentiates Hershey from its peers, he said.
"Hershey's leadership team has worked closely with the Board of Directors this year on a comprehensive five-year strategic plan,” Bilbrey added. “We have a global organization that we're equipping with resources and tools to win in the marketplace and will invest and expand our five core brands--Hershey's, Reese's, Hershey's Kisses, Jolly Rancher and Ice Breakers--in a disciplined manner, around the world.
“We believe the strategies in place support our new long-term targets of organic net sales growth of 5% to 7% and adjusted earnings per share-diluted growth of 8% to 10%.”
Bilbrey said the Hershey organization “is energized and believes in the potential and capabilities of our people, brands and processes. In addition, our solid operating cash flow and the strength of our balance sheet enable us to participate in value enhancing strategic acquisitions.”
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