The U.S. division of Nestle (NSRGY) plans to increase prices for some chocolate products due to commodity costs, raising prices of its Toll House morsels, baking cocoa and fudge kits starting June 23, according to Bloomberg’s Jaewon Kang, Isis Almeida and Sonja Wind, citing a memo viewed by the news service. Shares of rival Hershey (HSY) moved into positive ground following Bloomberg’s report.
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Read More on NSRGY:
- Trump announces trade deal, BoE lowers Bank Rate: Morning Buzz
- Nestle hires Rothschild for water unit sale, Reuters reports
- Nestle price target lowered to CHF 77 from CHF 79 at Morgan Stanley
- Nestlé’s Strategic Pricing and Strong Brand Presence Drive Buy Rating Amidst Inflation Challenges
- Nestle price target lowered to CHF 88 from CHF 93 at RBC Capital
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