Candy maker The Hershey Co. (NYSE: HSY) told an investors’ conference in New York today that the company will raise its investment in five core brands over the next five years “in a disciplined manner, around the world.” The company believes it can grow net sales by 5%-7% and adjusted EPS by 8%-10%.
The strategy centers on the company’s Hershey’s, Reese’s, Hershey’s Kisses, Jolly Rancher, and Ice Breakers brands. Hershey’s also said that the company has an “aspirational” goal of $10 billion in sales by 2017, up from a projected $6.6 billion this year and an actual revenue total of $6.1 billion in 2011.
For the current fiscal year, Hershey expects sales growth of 7%-9% and full-year adjusted EPS growth of 10%-12%. Last year the company posted EPS of $2.82 and the consensus estimate for this year is $3.21, up about 10.6%. No big change there.
The announcement has not done anything for the company’s shares, which are down -0.9% at $68.87 in a 52-week range of $53.83-$71.00 on roughly normal volume. Investors, apparently, anticipated more.