Wednesday, Feb. 18, 2009
Candy
Chocoholics continue to seek their sweet fix — sales at the Hershey Company and the UK's Cadbury are positive, even robust. Hershey reported fourth quarter earnings that were 9.3% higher than year-earlier levels. Cadbury, based in Britain, said it expects to report "strong profit growth for 2008"
Although sales are also going well at higher-end chocolate makers like Lindt & Sprüngli, they are seeing slower growth. Consumers are trading down from premium, luxury chocolates to more affordable treats. One concern for all chocolate makers is a recent spike in cocoa prices, which could crimp margins in the year ahead.