Hershey Announces Price Increase; Reaffirms Outlook for 2011

The Hershey Company HSY today announced an increase in wholesale prices across the majority of its U.S., Puerto Rico and export portfolio. A weighted average price increase of approximately 9.7 percent across the Company's instant consumable, multi-pack, packaged candy and grocery lines is effective today. These changes will help offset part of the significant increases in Hershey's input costs, including raw materials, packaging, fuel, utilities and transportation. “As a result, we continue to expect full-year 2011 net sales, including the impact of foreign currency exchange rates, and adjusted earnings per share-diluted growth to be around the top of the Company's long-term 3 to 5 percent and 6 to 8 percent objectives, respectively.