Biting into a delicious Reese’s Peanut Butter Cup is just delightful, isn’t it? Unfortunately for fans of the famous chocolate, Hershey’s has decided to create a new product that is a whopping 40 percent thinner than its traditional predecessor.
Called Reese’s Thins, the product is meant to appeal to candy lovers who want “more permissibility,” said Hershey North America president Michele G. Buck. The newly redesigned cups will be available in milk chocolate and dark chocolate varieties in March 2019.
The parent company reported lower than expected quarterly revenue on Thursday, as sales of checkout chocolate continue to decline. Hershey has been working to revamp some of its most beloved brands to boost sales. In May, the company launched Reese’s Outrageous, a chocolate bar stuffed with peanut butter, caramel, and Reese’s Pieces. Hershey’s is also debuting Reese’s Pieces in bar form this holiday season.
Reuters reported that net income attributable to The Hershey Company fell to $263.71 million, or $1.25 per share, in the third quarter, as well as $273.30 million, or $1.28 per share, a year earlier.
The candy maker has made efforts in the last few years to expand its offerings, thus becoming a broader snacking company. However, the push for new treats results in high freight costs, which are cutting into Hershey’s profits. As a result, Hershey in announced plans to raise prices.
By: Maytinee Kramer
