Hershey trims annual forecast as higher prices dent demand
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Hershey has reduced its annual revenue and profit forecasts due to lower demand caused by repeated price hikes. The company missed Wall Street estimates for the third quarter.
November 07, 2024 | 1:45 pm
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Hershey has lowered its annual revenue and profit forecasts after missing Q3 Wall Street estimates. The company attributes this to reduced demand from repeated price increases.
Hershey's decision to trim its annual forecasts and its failure to meet Q3 estimates are likely to negatively impact its stock price in the short term. The reduced demand due to price hikes suggests potential challenges in maintaining sales volumes.
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