Subject: Re: OT: Hershey
Brands embedded in American brains.

IMO - this is at risk. The food brand market is changing and not in Hershey's favor. The risk isn't (yet) existential but IMO will be a strong head-wind going forward.


I don’t see large percentages of humans maintaining the discipline to avoid the types of products Hershey sells, over long periods of time.

It won't take "large percentages" to have an impact; even a marginal change in consumption habits will have a material impact.

Hershey might work out fine; but the bear case is worth understanding.

tecmo
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