By Christopher Lombardo

Hershey hiked its ad and marketing spending in Q1, which came with large net sales and income increase. Advertising and related consumer marketing expenses increased 8.8% year-over-year in the first quarter of 2023, with increased investments across segments. Selling, marketing and administrative expenses increased 10.9% in the first quarter of 2023 versus the first quarter of 2022, driven by “higher levels of media and capability investments.”

http://strategyonline.ca/2023/04/27/hershey-hikes-its-ad-spend-in-q1/