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NEW YORK -- Hershey Co. outlined plans to reach $10 billion in net sales by 2017, according to MarketWatch. The company's new strategy will focus on five core brands: Hershey's, Reese's, Hershey's Kisses, Jolly Rancher and Ice Breakers.
"Our marketplace and financial results over the last few years validate our consumer-driven approach to core brand investment in both U.S. and key international markets," said CEO John Bilbrey in a statement.
The company added that it expects long-term net sales growth of 5 to 7 percent and adjusted earnings per share growth of 8 to 10 percent. For fiscal 2012, Hershey expects full-year net sales growth of approximately 7 to 9 percent and earnings per share in the range of $2.82 to $2.92, according to the report.
“We’ll continue to invest in tools and capabilities that will drive core brand growth," said Bilbrey. "We’re excited about the insights we’ll obtain from the additional work currently under way on Hershey’s confectionery demand landscape that is focused on the individual segments of chocolate, non-chocolate candy and refreshment in the U.S. and key international markets."
Bilbrey added that Hershey's Insights Driven Performance (IDP) initiative has been embraced by retailers who value solutions-based methods that drive mutual growth for the confectionery category and Hershey.
“Our organization is energized and believes in the potential and capabilities of our people, brands and processes. In addition, our solid operating cash flow and the strength of our balance sheet enable us to participate in value enhancing strategic acquisitions," stated Bilbrey. "While acquisitions are difficult to predict, combined with solid organic growth, we have aspirational goals of reaching $10 billion in net sales by the end of 2017. I’m optimistic and excited about our future. We are focused and know what we need to do to succeed. We have strong plans in place that will enable us to win wherever we compete."