Stepped-Up Investments in Its Brands and Capacity Stand to Buoy Hershey's Competitive Standing

While consumers are facing mounting costs in a number of areas of their lives, this has yet to temper their appetite for confectionery and snacking fare, as evidenced by the outsize organic sales growth Hershey has chalked up the past few quarters. But from our vantage point, this isn't merely a byproduct of a favorable demand environment. Rather, we applaud the strategic focus CEO Michele Buck has brought to bear over the past six years--ramping up investments in its core domestic brands while pulling back in its international arm (high-single-digit percentage of total sales, where we surmise it lacks a competitive edge).