Dive summary:
- Hershey’s adjusts ad spending and goes from “low double-digit" jump to instead increasing ad spending by 15%.
- Hershey’s spent $463 million on ads in the U.S. in 2011.
- Net sales in the third quarter for Hershey’s were $1.7 billion up from $1.6 billion in 2011.
From the article:
"We wouldn't continue to be advertising the way we are if we didn't think we were getting a good return on investment," CEO John Bilbrey said on Hershey's third-quarter earnings call.