Hershey cuts 2007 earnings estimate
HARRISBURG, Pa. - Hershey, the nation‘s largest candymaker, said Thursday it will earn less in 2007 than it had originally forecast, a day after disclosing plans to close its last two plants in Canada and cut jobs from another plant in Pennsylvania. The Hershey Co. blamed a sluggish domestic business and higher dairy costs for lowering itsto lower its earnings growth estimate for this year to 4 percent to 6 percent, down from the 7 percent to 9 percent range it forecast last month. It maintained its forecast of sales growth in the 3 percent to 4 percent range.
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