In January, Hershey said it had a fourth-quarter net loss of US$45 million. The company said it had costs associated with eliminating jobs and closing plants. It also spent more on marketing. In the year-earlier period, the company had net income of US$116 million.
At least one retailer is reporting higher sales.
Great Atlantic & Pacific Tea Co's candy sales in the fiscal year ending this month are up 1.5 percent from a year earlier, said Patti Councill, communications manager for the Montvale, New Jersey-based operator of 366 A&P, Waldbaum's and Super Fresh stores along the East Coast.
Chocolate sales are still robust outside of the holidays, Zachary said. "The every-day stuff is what's driving our business. People still think of chocolate as comfort food."
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