Hershey's mint and gum sales have plummeted because of social distancing and masks during the pandemic
Hersheyreported sales of mintsand gumwere down over 20%.
- Overall sales were up for Hershey, thanks to baking products and snacks.
- The company launched an ad campaign to try to boost sales.
Mint and gum sales are another loser of the COVID-19 pandemic, according to Hershey's fourth quarter earnings released Thursday.
Net sales for the company actually increased by about 5% in the fourth quarter of 2020 compared to the same period in 2019, but Hershey said that growth was offset in part by a 20.4% decline in refreshment products, or mints and gum. People apparently aren't throwing mints in their carts at the last minute during grocery trips, and constant mask-wearing has made these products feel less necessary. "The functional need for breath freshening continues to be impacted by social distancing," as Hershey politely put it.Read more: Hershey's chief growth officer lays out how the company boosted profits by 13% thanks to two new approaches to selling chocolate and mints
Other products in Hershey's portfolio did better this year, though, including salty snacks and baking items like peanut butter and cocoa.
- SBI, Airtel, Adani Enterprises, TCS and other top stocks to watch out for on August 4
- Krsnaa Diagnostics IPO opens—here is all you need to know
- These are some of the highest paid founders of Indian startups tapping capital markets this year
- Exxaro Tiles IPO opens today—here’s how to apply for IPO, check allotment status, listing date and more
- Devyani International IPO: Here’s how to apply via banks and apps like Zerodha, Upstox