Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
HERSHEY CO reported financial results for the fourth quarter ended December 31, 2023.
- Period
- the fourth quarter ended December 31, 2023
- Result
- reported results
Exact text from the filing
On February 8, 2024, The Hershey Company (the “Company”) announced sales and earnings information for the fourth quarter and full year ended December 31, 2023. A copy of the Company's press release is furnished hereto as Exhibit 99.1 and is incorporated herein by reference.
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Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
HERSHEY CO reported financial results for the full year ended December 31, 2023.
- Period
- the full year ended December 31, 2023
- Result
- reported results
Exact text from the filing
On February 8, 2024, The Hershey Company (the “Company”) announced sales and earnings information for the fourth quarter and full year ended December 31, 2023. A copy of the Company's press release is furnished hereto as Exhibit 99.1 and is incorporated herein by reference.
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
HERSHEY CO announced a restructuring with charges of $200 million to $250 million affecting supply chain and manufacturing-related spend, selling, general and administrative expenses ($45 million to $60 million as we facilitate workforce reductions).
- Type
- restructuring
- Charge
- $200 million to $250 million
- Affected area
- supply chain and manufacturing-related spend, selling, general and administrative expenses
- Headcount
- $45 million to $60 million as we facilitate workforce reductions
Exact text from the filing
On February 2, 2024, the Board of Directors of the Company approved a multi-year productivity initiative (“Advancing Agility & Automation” or “AAA”) to improve supply chain and manufacturing-related spend, optimize selling, general and administrative expenses, leverage new technology and business models to further simplify and automate processes, and generate long-term savings. The Company estimates that the AAA Initiative will result in total pre-tax costs of $200 million to $250 million from inception through 2026.
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