Bank of America reports back on its video call with top Hershey (NYSE:HSY) execs.
BofA notes Hershey expects overall sales to continue to improve sequentially throughout FY20, as sales in the U.S. are recovering at a faster pace than international regions.
Hershey also shared that U.S. sales in the convenience & gas channel are still improving and foodservice has recovered better than expected due to higher exposure in the better-performing QSR segment.
On the M&A front, Hershey management mentioned that the company is currently involved in several deal discussions, however, valuations remain too high.
