Hershey warns it won't be able to fully meet demand for Halloween candy
Sweet treat giant Hershey warned investors Thursday that it won't be able to fully meet Halloween and holiday demand for its products.
Sweet treat giant Hershey warned investors Thursday that it won't be able to fully meet Halloween and holiday demand for its products.
In a call discussing its second-quarter earnings, Hershey CEO Michele Buck said the candy-maker uses the same equipment to make both everyday and seasonal confections.
As a result, it must balance the production of both. And due to overwhelming demand and supply-chain issues related to Russia's invasion of Ukraine, it is erring on the side of ensuring its everyday items remain in stock.
"We will not be able to fully meet consumer demand due to capacity constraints," Buck said.
She said the company sources much of its equipment and supplies from Europe, which has been facing an economic crunch due to the reduction in Russian natural gas supplies.
Rating: 5