Hershey quarterly sales misses estimates
(Reuters) – Hershey Co (HSY.N) quarterly sales missed estimates on Thursday, as the economic fallout of the COVID-19 pandemic kept people from spending on its chocolates and candies in overseas markets, such as Brazil and Mexico.
Net sales fell to $1.71 billion, in the second quarter ended June 28, from $1.77 billion a year ago, falling short of analysts’ average estimate of $1.74 billion, according to IBES data from Refinitiv data.
However, the company said it expected sales to accelerate in the second half of the year.
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