August 9, 1988 |
Hershey Foods Corp. said Monday that it would sell its restaurant chain, Friendly Ice Cream Co., to Tennessee Restaurant Co. for about $375 million, underscoring the candy maker's resolve to concentrate on its basic business of snack treats. Analysts said that shedding Friendly would probably help Hershey's future earnings. "Most people thought Friendly depressed growth a bit," said Ronald Morrow with Smith Barney, Harris Upham & Co. The Wilbraham, Mass.
September 20, 1988 |
After shedding Friendly Ice Cream Corp. this summer, Hershey Foods Corp. is looking for new ventures, particularly in Europe, Chief Executive Officer Richard Zimmerman said. "The sale of Friendly gives us a new piece of work to do. I'd like to think there'd be opportunity for new ventures and work with people in international markets, especially Europe," Zimmerman said in an interview. He said the company will look for overseas ventures in consumer food products and in the confectionery market.
August 27, 2002 |
Nestle, the Swiss food and beverage giant, reportedly has made an $11.5-billion preliminary bid for Hershey Foods Corp., the biggest U.S. chocolate maker whose trustees are now said to be growing less inclined to sell the venerable company. The news, based on two published reports Monday, sent shares of Pennsylvania-based Hershey up 2.4%, gaining $1.77 to $76.80 on the New York Stock Exchange.
January 31, 2001 |
Other earnings, excluding one-time gains or charges unless noted, include: * Avis Group Holdings Inc., which is being acquired by Cendant Corp., said fourth-quarter earnings rose 42% to $15.3 million, or 32 cents a share, a penny better than expectations, as sales edged down less than 1% to $1 billion. * Cardinal Health Inc., the second-biggest U.S. drug wholesaler, said fiscal second-quarter profit rose 21% to $214.6 million, or 75 cents a share, from $176.
December 29, 1999 |
Hershey Foods Corp. has a huge computer problem--and it has nothing to do with Y2K. The biggest U.S. candy company warned Tuesday that earnings for this year will miss forecasts as continuing problems stemming from a new computer system prompt more retailers to switch to competitors for candy products. Profit from continuing operations for the year will be about 10 cents a share below Hershey's October forecast of $2.16 to $2.20, the company said.
October 25, 2000 |
Pfizer Inc. and Schering-Plough Corp. on Tuesday posted double-digit profit gains in their third quarter on strong sales of blockbuster medicines, but Pfizer shares fell on what some analysts said was disappointing growth of its cholesterol fighter Lipitor. Pfizer, the world's largest drug maker, said earnings from operating rose 30% to $1.71 billion, or 27 cents a share, beating the consensus Wall Street estimate of 25 cents.
February 19, 2008 |
After months of turmoil, chocolate maker Hershey Co. is pinning its hopes on Bliss. Bliss, a new premium chocolate candy, will be more closely watched than most product launches, as investors look for signs that the largest U.S. chocolate maker can recapture market share lost to rivals such as Mars Inc. "It's key for their future in that much of the growth in the chocolate category now is in premium and Hershey really lacks a presence in that category," said Morningstar Inc.
October 29, 2005 |
The name of a small Temecula clothing company that produces outfits for nursing mothers is Milkdudz. Get it? Candy giant Hershey Co. -- maker of Milk Duds chocolate-covered caramels -- did and was not happy about it. Last week, Milkdudz co-founder Kiersten Wall, who runs the business out of her home garage, received a notice from the U.S. Patent and Trademark Office that Hershey was protesting her use of the Milkdudz name. It didn't come as a surprise to Wall, 29.
July 27, 1999 |
EBay Inc. reported a better-than-expected profit for the second quarter as revenue more than doubled, despite repeated troubles with the online auctioneer's computer server that stymied would-be bidders. EBay said its profit before merger- and compensation-related expenses was $5.1 million, or 4 cents a share, down slightly from $5.2 million, or 5 cents, a year earlier. Revenue soared to $49.5 million from $19.5 million.
December 20, 2005 |
The distinctive chocolate bar on the dust jacket of a new book about the founder of the Hershey Co. violates the company's trademark, the candymaker said in a federal lawsuit. The company wants an injunction to prevent publisher Simon & Schuster Inc. from using Hershey-owned images to market "Hershey: Milton S. Hershey's Extraordinary Life of Wealth, Empire and Utopian Dreams," which is coming out next month.