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MONDAY, NOVEMBER 23, 2009
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Soaring Candy Sales Sweeten Hard Times

Confectioners' profits rise as people seek comfort

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(Newser) – 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.

Candy provides relief to many troubled by the economy.
Candy provides relief to many troubled by the economy.   (Shutterstock)
People are seeking comfort in candy.
People are seeking comfort in candy.   (Shutterstock)
Many candies emerged in the 1930s.
Many candies emerged in the 1930s.   (Shutterstock)
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piesmusher
Mar 24, 09 1:21 PM CDT
mmmmm, gummi bears Reply
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Mad
Mar 24, 09 2:09 PM CDT
Vitamin Ch ! By the way, chocolate eaten, when sad, has zero calories. Just FYI Reply
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Hershey • recession • Cadbury Schweppes • Tootsie pop • candy • Nestle • economy • sweet tooth • financial crisis • Snickers • Three Musketeers

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