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| Hershey warns of Halloween treats shortage | Hershey warns of Halloween treats shortage |
| (about 2 hours later) | |
| US chocolate manufacturer Hershey has warned of a shortage of sweets over the Halloween holiday as it struggles to ramp up supply. | US chocolate manufacturer Hershey has warned of a shortage of sweets over the Halloween holiday as it struggles to ramp up supply. |
| On Thursday, chief executive Michele Buck said the firm "will not be able to fully meet consumer demand". | On Thursday, chief executive Michele Buck said the firm "will not be able to fully meet consumer demand". |
| It is the latest firm to be hit as the pandemic and the Ukraine war challenge production. | It is the latest firm to be hit as the pandemic and the Ukraine war challenge production. |
| Earlier in the day, Swiss food giant Nestle said it had put up its prices again because of "unprecedented" costs. | |
| During a call after Hershey released its latest earnings, Ms Buck said the company had found it more difficult to secure ingredients as a result of the war. | During a call after Hershey released its latest earnings, Ms Buck said the company had found it more difficult to secure ingredients as a result of the war. |
| She added that disruption to Russian energy supplies to Europe - Moscow has cut gas supplies to Germany and the EU is aiming to restrict its energy imports - was affecting Germany, where Hershey sources equipment and supplies. | She added that disruption to Russian energy supplies to Europe - Moscow has cut gas supplies to Germany and the EU is aiming to restrict its energy imports - was affecting Germany, where Hershey sources equipment and supplies. |
| Because Hershey's everyday and holiday products use the same manufacturing lines, Ms Buck said the firm made the "tough decision" focus on everyday treats. | Because Hershey's everyday and holiday products use the same manufacturing lines, Ms Buck said the firm made the "tough decision" focus on everyday treats. |
| "We had the opportunity to deliver more Halloween, but we weren't able to supply that. And we were really producing," she said. | "We had the opportunity to deliver more Halloween, but we weren't able to supply that. And we were really producing," she said. |
| Can the world cope without Russian oil and gas? | Can the world cope without Russian oil and gas? |
| How science is making chocolate taste even better | How science is making chocolate taste even better |
| The period around the Halloween holiday in October is an important one for Hershey. It accounts for around a tenth of the company's annual sales, as adults and children stock up on KitKats, Twizzlers, and Reese's Peanut Butter Cups. | |
| Ms Buck's comments came after Hershey reported better-than-expected earnings on Thursday. | Ms Buck's comments came after Hershey reported better-than-expected earnings on Thursday. |
| The firm said its net sales jumped by over 19% to $2.37bn (£1.9bn) over the three months ending 3 July, which beat market expectations. | The firm said its net sales jumped by over 19% to $2.37bn (£1.9bn) over the three months ending 3 July, which beat market expectations. |
| Companies around the world are facing cost pressures. | Companies around the world are facing cost pressures. |
| On Thursday, Nestle said it had increased prices by 6.5% in the first half of this year. | On Thursday, Nestle said it had increased prices by 6.5% in the first half of this year. |
| Nestle boss Mark Schneider said price increases were made to limit "the impact of unprecedented inflationary pressures and supply chain constraints". | Nestle boss Mark Schneider said price increases were made to limit "the impact of unprecedented inflationary pressures and supply chain constraints". |
| You may also be interested in: | You may also be interested in: |
| Is this the oldest uneaten Easter egg? | Is this the oldest uneaten Easter egg? |
| Is this the oldest uneaten Easter egg? | Is this the oldest uneaten Easter egg? |