The Hershey Co. unveiled its third-quarter profits, proving that Americans were more in need of sweets this year.
Well before the peak of Halloween candy season came a spike in chocolate buying - from Hershey bars to Reese's peanut butter cups. The company's profits climbed 33% to $611 million from July to September, the New York Post reports.
"Our core US business remains healthy, as consumers reach for small treats during the pandemic and they continue to celebrate important rituals in their lives," Hershey president and CEO Michele Buck said.
Consumers weren't only focused on candy and chocolate bars, though. They also seemed to gravitate towards baking items like chocolate chips and syrup.
Hershey also opted for an early push on Halloween candy this year, which proved profitable for them with their margins rising "slightly" from last year's numbers.
While the coronavirus threw a wrench in trick-or-treating plans, leaving many families to forego their candy buying this year, Buck said in a statement that "overall, the category showed resilience in a very volatile environment with COVID-19 case counts rising significantly across the country during the final week."
In late March, just as the pandemic began to get some traction, baking trends across the country made themselves known with many stuck at home and trying new recipes.
At the start of the pandemic, it appeared as though most people were opting for their take on banana bread, with internet searches for the best recipes surging.
LISTEN NOW on the RADIO.COM App
Follow RADIO.COM
Facebook | Twitter | Instagram