Lee Jae Won/Reuters
In prepared remarks at the beginning of the conference call, president and CEO Michele Buck listed online retail as a major focus and potential growth area for the company. She mentioned collaboration with brick-and-mortar retailers, as well as efforts to better accommodate the needs of online shoppers.
Her comments did not fall on deaf ears.
Credit Suisse analyst Robert Moskow circled back to them during the Q&A portion of the call, asking about what he interpreted as a “change of tone regarding the sense of urgency to get bigger in e-commerce.” He mentioned that in his discussions with investors, he’d noticed concern over the dwindling number of cash registers — the epicenter of the confectionary impulse purchases so crucial to Hershey sales.
“I think it is fair to say that we are dialing up,” replied Buck, who also stressed that Hershey’s impulse and take-home business showed “pretty strong performance” during the period.
The CEO went on to discuss how Hershey is reinvesting additional resources in the e-commerce imitative and partnering with customers. She noted that there’s major interest among the company’s brick-and-mortar partners to expand online offerings.
The entire exchange echoed many others…