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TheStreet Open House

The Hershey Management Discusses Q2 2012 Results - Earnings Call Transcript

xAOC+C-store CMG year-to-date category growth is up a solid 5.1%. The combined segments of chocolate, non-chocolate and mints grew 6.9%, while gum declined about 3.5%. Growth by channel has varied. However, the confectionery category is advantaged and ubiquitous. While we focus on all points of distribution, we've been flexible and focused on our efforts and resources with faster growing customers and classes of trade. Specifically, year-to-date CMG growth in the expanded xAOC universe, which includes Walmart, partial Dollar, Club and Military, increased 7.4%. Hershey retail takeaway was solid across all of these channels.

For the year-to-date period ended June 16, 2012,xAOC+C-store chocolate category growth was up plus 6.1%. xAOC+C-store chocolate retail takeaway for Hershey was plus 4.3% with market share of 0.7 points.

As I mentioned earlier and as planned, Hershey's chocolate performance was impacted by a shorter Easter period and the timing of chocolate new product launches as well as in-store promotions and programming. We have solid plans in place over the remainder of the year supporting new products in our core chocolate business and expect our chocolate marketplace performance to improve sequentially in the second half.

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