The Hershey Company (HSY - Free Report) recently unveiled a brand new flagship store — Hershey's Chocolate World — at New York-New York Hotel & Casino on the iconic Las Vegas Strip.
The retail store, spread across 13,000 square feet and occupying two floors, offers more than 800 candy and chocolate options to choose from, including the popular Hershey’s brands — Hershey's, Hershey's Kisses, Reese's, Ice Breakers, Jolly Ranchers, Twizzlers and more. The store will also allow customers to taste new treats, personalize sweet gifts and click keepsake photos.
As an added attraction, the store features a massive 74-foot Hershey's Milk Chocolate bar, and chocolate sculptures of the Statue of Liberty and the Empire State Building. While the Statue of Liberty is made out of almost 800 lbs of pure Hershey's Milk Chocolate, the Empire State Building is made of 1,800 Hershey's Milk Chocolate bars.
Hershey is the largest producer of quality chocolate in the U.S. with a market share of almost 45%. The company markets some of the world’s leading brands which enjoy widespread consumer acceptance. The company is also a global leader in sugar confectionery products, an attractive category, as confectionery products are easily available, affordable and highly indulgent. The global confectionary category has been growing at a compound annual growth rate of nearly 5% for several years. Hershey commands 31.1% share of the U.S. CMG (chocolate, mint and gum) category.
Other Stocks to Consider
Hershey carries a Zacks Rank #3 (Hold). Better-ranked food/beverage stocks include The WhiteWave Foods Company (WWAV - Free Report) , B&G Foods, Inc. (BGS - Free Report) and The Hain Celestial Group, Inc. (HAIN - Free Report) . While WhiteWave Foods sports a Zacks Rank #1 (Strong Buy), B&G Foods and The Hain Celestial carry a Zacks Rank #2 (Buy).