Hershey Says Growth in China Weaker Than Expected

April 23, 2015 2:33 PM

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The maker of Reese's peanut butter cups, Twizzlers licorice and other candies and chocolates said sales in China during the country's New Year holiday were weaker than it expected. Sales in China fell 47 percent in its first quarter from the same period a year ago. That number excludes sales of Golden Monkey products, a Chinese food company that Hershey bought a controlling stake in late last year.

Hershey said a slowdown in China's economy is keeping people from buying its goods. It will expand into more Chinese cities and will increase taste tests in stores.

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