Latest: Hershey is worried about popcorn, not record cocoa prices
Hershey CEO Michele Buck opened up the company’s earnings call (pdf) Thursday (Feb. 8) by talking about “historic” cocoa prices. Thanks to speculators taking advantage of back-to-back West African rains and droughts, a metric ton of the brown stuff costs more than $5,400 for one contract traded out of New York, more than double what it was the same time last year. The chocolatier is maneuvering to keep from raising prices too much. How to negotiate salary going into a new job | Your Wallet“I do want to be very clear that there’s no change to our pricing strategy,” she told investors. “And our commitment to use pricing to cover inflation and to support the investments that we think are critical to drive the business. So, given where cocoa prices are, we will be using every tool in our toolb...