BRIEF-Hershey on conf call- Know there's a lot of chatter about Mondelez offer, not going to comment further on the matter
REUTERS 9:08 AM ET 7/28/2016
Symbol Last Price Change
HSY 110.86 +2.67 (+2.47%)
MDLZ 43.58 -0.36 (-0.82%)
QUOTES AS OF 09:53:57 AM ET 07/28/2016
July 28 (Reuters) - Hershey Co(HSY)
* On conf call - have intensified focus on analysis of global cost structure and business model
* On conf call - initial work underway indicates that there are bigger opportunities to unlock cost savings
* CFO- China gross sales are forecasted to decline in 2016
* CFO- for full year expect capex to be in the $265 million-$275 million range, about $20 million less than previous estimate
* CFO- advertising and related consumer marketing expense for the year is lower versus previous estimate
* Know there's a lot of chatter about Mondelez(MDLZ) offer, not going to comment further on this matter
* On conf call - expect full-year savings of about $135 million , up from previous estimate Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)
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Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
Yeats
