Joe Biden’s America: Hershey CEO Warns of Halloween Candy Shortage
The US is now experiencing shortages of baby formula, tampons, peanut butter and other important commodities thanks to Joe Biden.
Now we can add Halloween and Christmas candy to the list of shortages thanks to Joe Biden.
And of course it’s Putin’s fault.
Hershey CEO Michele Buch warned of a Halloween candy shortage this fall.
According to Hershey, shortages of cocoa and other food ingredients is causing problems for the candy supplier.
Halloween candy makes up 10% of the company’s annual sales.
Hershey Co (HSY.N)said on Thursday it would fall short of meeting demand for the all-important Halloween and Christmas holiday seasons this year, blaming a scarcity of raw ingredients and difficulties in securing suppliers.
Pandemic-induced global supply chain disruptions and the Russia-Ukraine war have crunched supplies of cocoa, edible oil and other food ingredients, pinching production lines of packaged food companies around the world.
Hershey Chief Executive Officer Michele Buck said those issues, along with the company’s focus on meeting demand during non-holiday periods, would lead to a likely shortage during Halloween, but added that sales will still top last year.
The period around the Halloween holiday in October is Hershey’s busiest time of the year, making up about 10% of the company’s annual sales, as kids and their parents stock up on Twizzlers, Jolly Ranchers and Kit Kat bars.
While Hershey expects more consumer pushback over higher prices in the second half of the year, the company is relying on price increases to boost growth.
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