1554 ET - Hershey CEO Michele Buck says at the Consumer Analyst Group of New York conference that the company is taking steps to build long-term resilience to fluctuations in cocoa prices. These actions include "diversifying our supply chain in terms of where we source cocoa, how we think about product formulation, and investing in innovative solutions, both on the ground in cocoa production, as well as using cocoa science in other ways to boost the business," she says. Record-breaking cocoa prices are pressuring earnings among candy companies, though Buck reiterates the company is confident in its ability to hit its 2025 targets as cocoa costs normalize. (connor.hart@wsj.com)
(END) Dow Jones Newswires
February 18, 2025 15:54 ET (20:54 GMT)
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