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Hersheys Q2 Gets Sales Boost From Amplify Snacks Acquisition

HERSHEY, PA -- Hershey Co.'s sales climbed 5.3% to $1.75 billion in the second quarter from $1.66 billion a year earlier, driven by the company's acquisition of SkinnyPop maker Amplify Snack Brands. Second-quarter net income for the period ended July 1 was $226.9 million, or $1.08 a share, up from $203.5 million, or 89¢ a share, for the same period last year. For the period ended July 1, the company's net income rose to $226.9 million, or $1.08 per share, from $203.5 million, or 95¢ a share, a year earli...

August 1, 2018

HERSHEY, PA -- Hershey Co.'s sales climbed 5.3% to $1.75 billion in the second quarter from $1.66 billion a year earlier, driven by the company's acquisition of SkinnyPop maker Amplify Snack Brands.

Second-quarter net income for the period ended July 1 was $226.9 million, or $1.08 a share, up from $203.5 million, or 89¢ a share, for the same period last year.

For the period ended July 1, the company's net income rose to $226.9 million, or $1.08 per share, from $203.5 million, or 95¢ a share, a year earlier.

Hershey purchased Amplify Snack Brands earlier this year in a $1.6 billion deal as part of the Reese's Peanut Butter Cups and Kit Kat bar maker's efforts to diversify into salty snacks. The chocolate giant bought beef jerky maker Krave in 2015.

The chocolate giant's snacking sales increased 0.3% during the second quarter, with SkinnyPop sales growing 8.3%.

Hershey's core confectionery brands increased 1.3%, driven by Hershey's Gold, Reese's and Ice Breakers gum.

Hershey sales in North America climbed 5.6% to $1.56 billion in the second quarter.