Hershey says it won’t be able to meet Halloween demand this year
Jul 29, 2022, 2:00 PM | Updated: Aug 2, 2022, 10:20 am
Halloween candy and decorations are displayed at a store, Wednesday, Sept. 23, 2020, in Freeport, Maine. U.S. sales of In this year of the pandemic, with trick-or-treating still an uncertainty, Halloween candy were up 13% over last year in the month ending Sept. 6, according to data from market research firm IRI and the National Confectioners Association. (AP Photo/Robert F. Bukaty)
(AP Photo/Robert F. Bukaty)
Despite growth in sales, the Hershey Company expects it will not meet demands for Halloween or holiday candy this year.
The news came as Hershey Company CEO and Chairman Michele Buck presented the company’s earnings report on Thursday.
Buck explained that Hershey’s holiday products are mostly made on the same production line as their everyday products. The company will prioritize keeping up with its everyday products this year instead of meeting holiday demands.
“We have needed to balance production over the past several months to improve everyday on-shelf availability and build seasonal inventory at the same time,” Buck said.
Buck went on to explain that by next year, inventory should be more balanced and Hershey should be able to meet both holiday and everyday demands in 2023.
The candy company said it has already been taking steps to improve production, like investing in its supply chain.
