Monarch’s Mid-week snack: The Hershey Company

Howdy ladies & lady lads, welcome back to Monarch.

Question - ever dream about the chocolatey touch of a Hershey's Kiss on your lips? Or a midnight bite into the paradise that is a Reese's Peanut Butter Cup? 🥵😍

In today’s edition of Monarch, I’ll spill the (cocoa) beans on the company that's got us hooked on these guilty pleasures…

..AND on the bad@ss lady who has taken The Hershey Company to the next level 👀

The Beginnings

Once upon a chocolate bar, Milton S. Hershey decided caramel was so 1893, and shifted into the big leagues by starting The Hershey Company in 1994.

His humble caramel business in Hershey, PA, soon transformed into an absolute chocolate empire that captured (and continues to capture) the hearts of millions. 👑

The company's commitment to quality, innovation, and community has been the driving force behind its enduring success. 🚀

Meet the Chocolate Queen

In 2017, Michele Buck assumed the role of CEO, becoming the first female chief executive in Hershey's history.

Buck's journey to the top of the confectionery giant was marked by her exceptional leadership skills and a deep understanding of consumer trends.

Under her guidance, Hershey has experienced remarkable growth and has solidified its position as a snacking powerhouse. 💪🏼

Buck's leadership style is characterized by her ability to think disruptively and challenge the status quo. She’s not afraid to make bold moves and explore new avenues for growth (see: next section 👀).

By accelerating innovation and expanding Hershey's portfolio into new snack offerings, Buck has, so far, successfully positioned the company to thrive in an ever-changing food landscape.

Michele's Magic Wand

Hershey's hasn’t succeeded by simply sticking to their OG goodies - Many of Buck’s genius plays have been in the realm of mergers and munchies (I mean acquisitions).

Hershey's acquisitions have not only expanded its market presence but also allowed the company to tap into emerging trends by acquiring brands at the forefront of these trends. Perfect example? The Skinny Pop boom 🍿

Buck's emphasis on product innovation and strategic acquisitions has been instrumental in Hershey's growth. By leveraging analytics and consumer insights, she has helped the company better understand its customers and continue competing among snack giants.

All that’s to say.. Michele is always thinking about our ever-evolving snacking preferences 🙏🏼

A Sweet Success Story Continues into 2023

So, just how sweet has 2023 been for Hersheys?

Especially when taking the pandemic into account, Hershey’s strong financial performance in the second quarter of 2023 (as reported in its earnings call) is a testament to its grit, innovation, and depth to withstand challenging times.

Net sales grew by 5.0%, and net income by a whopping $407.0 million in Q2. This is a 29.4% increase compared to the same time period last year 📅

With even more good news, adjusted earnings per share-diluted stood at $2.01, marking an 11.7% increase 📈

Talk about a lot of dough (and we aren't talking cookie dough 🍪)!

These impressive financial results reflect Hershey's commitment to driving growth and delivering value to its shareholders. 🎉

(How sweet? = Chocolate-level sweet 🍫)

Looking ahead to a Chocolate Covered Future

All things considered, Hershey’ outlook is optimistic:

• Net sales growth projection of approximately 8% for 2023

• Main growth drivers: Commitment to its core brands, continued product innovation, and expanding market presence (ie: mergers & munchies)

Quiz Time 📝

Reminder: Each time you submit a quiz answer, your name will get entered into the monthly Monarch Money Mayhem™️ drawing. If you get the answer right, your name will go in twice 👀

This month, you’ll be eligible to win a $100 Amazon gift card & $25 to Starbucks 👀 🤑

Parting Bites

Unfortunately it’s about time to wrap this chocolate scoop up.

I’ll leave you with this motivational paragraph:

Every time you're unwrapping a Hershey's Kiss, indulging in a Reese's Peanut Butter Cup, or mowing down a family sized bag of Skinny Pop (as you can, as you will, and as you deserve) you can savor the knowledge that behind these delectable treats lies a company driven by passion, innovation, and a desire to bring joy to every chocolate lover's life.

And this motivational slogan:

The Hershey Company: where sweetness meets success 🚀

🍫 Happy munching, Monarch-mates! 🍫

-Bailey

Note: This snack of an update is based on referenced earnings and articles. Dive into official sources for the detailed, number-crunchy stuff below!