Hershey Foods’ third-quarter results exceeded Wall Street analysts’ estimates, thanks to pricing increases and the company’s expanded portfolio of healthier snacks, Reuters reports.
The company said it expects sales for fiscal 2019 to be up about 2.5% over its prior growth forecast of about 2%. It also reported net income of $325.3 million or $1.54 per share for the quarter, up from $263.7 million or $1.25 per share a year earlier.
In August, Hershey acquired One Brands, maker of low-sugar, high-protein nutrition bars, for $397 million. Over the past two years, the company has spent about $2 billion on the acquisition of better-for-you snack companies, including Skinny Pop maker Amplify Snack Brands and Pirate Brands, maker of Pirate’s Booty baked snacks. The company has also implemented price increases, most recently in July.
The FDA, along with the CDC and state and local partners, continue to investigate a multistate outbreak of Cyclospora infections potentially linked to Aldi, Hy-Vee, and Jewel-Osco grocery store brand “garden salads” containing iceberg lettuce, red cabbage, and carrots.
Danone North America and Brightseed, a biosciences company and developer of artificial intelligence (AI) that maps novel plant nutrients to human health, have announced a new partnership.
According to the 2020 Organic Industry Survey released by the Organic Trade Association, U.S. organic food sales hit $50.1 billion, up 4.6% from the previous year.
In a study conducted by Northumbria University’s Healthy Living Lab, around half of UK children who received free school meal vouchers are reporting a significant drop in their intake of fruit and vegetables since schools closed in March.
Applied Food Sciences (AFS) has announced that it has received a “no comment” letter from the FDA for its AMATEA organic guayusa extract GRAS dossier.
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