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Prices Going Up For Kisses, Reese's

Hershey Co. is prepping its first price hike in three years, 8% on average, because of high dairy and cocoa prices. While the company expects a short-term dip in sales, it says long-term prospects are good because of the strength of the brand and popularity of chocolate. Last week CEO John Bilbrey said the maker of Hershey Kisses and Reese's Peanut Butter Cups will be watching for  reduction in sales caused by the increase. Competitor Mars Chocolate North America said on Wednesday it was raising prices 7%.

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