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Chocoholic beware: Prices going up
Hershey Foods blames fuel prices, packaging costs and employee benefits; Mars also ups prices.
December 16, 2004: 1:00 PM EST

NEW YORK (CNN) - Getting a chocolate fix is about to get more expensive.

Hershey Foods (down $0.23 to $56.35, Research), the nation's largest snack-food company, said Thursday it is raising its candy prices. Standard and king-size chocolate bars are facing a wholesale price increase of nearly 6 percent, while the cost of packaged items -- like Hershey's Miniatures -- will be raised more than 4 percent.

Hershey's officials said the increases come in response to a similar move by competing chocolate producer Mars Inc., the maker of Snickers and M&M's. Hershey also blamed higher fuel prices, packaging costs and increases in benefits for its employees.

Sellers are expected to pass along the higher costs, meaning that come Valentine's Day, lovers will have to shell out more for those Hershey Kisses. Other affected products include Reese's Peanut Butter Cups, Kit Kat bars and Almond Joy candy bars.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.