Soaring Candy Sales Sweeten Hard Times

Confectioners' profits rise as people seek comfort
By Matt Cantor,  Newser Staff
Posted Mar 24, 2009 9:03 AM CDT
Soaring Candy Sales Sweeten Hard Times
Candy provides relief to many troubled by the economy.   (Shutterstock)

Tough times don’t seem to be trickling down to inexpensive candy shops, where adult customers are flocking for a sugar-coated escape from their troubles, the New York Times reports. “People may indulge themselves a little bit more when times are tough,” says an analyst. And indulge they are: People are putting candy “in their actual budget,” says a store owner.

Big confectioners’ sales are soaring: Cadbury’s profits rose 30% and Nestle’s 10.9% in 2008, the companies reported. Hershey had a rough year, but its fourth-quarter profits climbed 8.5%. “Candy companies are relatively recession-proof,” notes an expert. “During the Great Depression, candy companies stayed in business.” Snickers, Tootsie Pops, and Three Musketeers bars all appeared in the early 1930s. (More candy stories.)

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