Hershey Raising Prices
Hershey Foods Corporation announced an increase in the wholesale prices of approximately half of its domestic confectionery line.
A weighted average 5.8% increase on the company's standard bar, king-size bar, six-pack and vending lines is effective immediately. During the eight-week period ending February 14, 2005, however, existing customers may, based on their historic order patterns, order and take delivery of up to 12 weeks of inventory of these items at current prices.
A weighted average 4.1% increase on packaged chocolates will be effective February 14, 2005. During the six-week period from February 14 to March 28, 2005, however, customers may, based on their historic order patterns, order and take delivery of up to 10 weeks of inventory of these items at current prices.
The changes approximate a 3% price increase over Hershey's entire domestic product line and will help offset increases in areas of the company's input costs, including raw and packaging materials, fuel, utilities, transportation and employee benefits.