Hershey co. HSY -1.32% raised its guidance for the year after reporting a 13% rise in third-quarter sales on higher-than-expected demand for its snacks and sweets despite rising prices. The maker of Reese’s peanut butter cups and Twizzlers candy said Friday that higher prices helped it offset higher supply chain costs and advertising spending, the … Read more
Supply chain technology provider project44 has postponed plans for a possible public offering amid uncertainty in markets, and is instead turning to more venture capital investments to expand its company’s tracking of goods through global transportation networks. Chicago-based project44, one of a number of supply chain software startups that have drawn billions of dollars in … Read more
A major US diesel fuel supplier warned on Monday of an “oil shortage” on the East Coast, suggesting it could push up prices of a number of consumer goods in the short term. But the tight supply of diesel oil is no reason to panic, and the US is not going to run out of … Read more
TOKYO— Foxconn 2317 -1.44% Technology Group plans to shift some production from its Covid-hit iPhone factory in central China to other parts of the country, people familiar with the matter said, as many workers fearing the outbreak have left the factory. Foxconn has struggled to contain a Covid-19 outbreak at its Zhengzhou facility, the world’s … Read more
TOKYO— Foxconn 2317 -1.44% Technology Group plans to shift some production from its Covid-hit iPhone factory in central China to other parts of the country, people familiar with the matter said, as many workers fearing the outbreak have left the factory. Foxconn has struggled to contain a Covid-19 outbreak at its Zhengzhou facility, the world’s … Read more
It took Jacob Rothman two decades to build a Chinese manufacturing business with his friends and family. Now the 49-year-old American executive says customers want him to make some of his grilling tools and kitchen products elsewhere. He knows it isn’t going to be easy. “There’s not a customer that we have that isn’t pressuring … Read more
On her first day as permanent chief executive of Bed Bath & Beyond Inc., BBBY -0.40% Sue Gove made a plea to suppliers of the struggling home goods retailer: Stick with us. The company hosted roughly 500 suppliers virtually and at its Union, NJ, headquarters for a two-hour summit in which executives laid out their … Read more
Boeing’s commercial jet business has dealt with supply chain disruptions. Photo: LINDSEY WASSON/REUTERS Boeing co. B.A 3.24% said its losses deepened in the third quarter as fresh problems with its defense business added to the supply chain and regulatory woes in its commercial jet arm. The Arlington, Va., aerospace giant reported a loss of $3.3 … Read more
Kraft Heinz co. VARIOUS 1.48% posted higher sales in the latest quarter after raising prices to offset rising costs. The Pittsburgh-based maker of Kool-Aid and Jell-O said sales rose 2.9% to $6.51 billion in the third quarter as it pushed prices 15.4% higher from a year ago in an effort to to manage rising input … Read more
General Motors Co. GM 2.06% posted a 37% third-quarter net profit increase, as production snapped back from supply-chain problems a year earlier and car buyers continued to pay up for new vehicles. GM reported a $3.3 billion profit, driven by outsize sales of big pickup trucks and SUVs, the company’s biggest money makers. Revenue jumped … Read more