The recession seems to have a sweet tooth, according to this New York Times reporter who discovered that many big candy makers are enjoying rising sales and surprising profits despite a sour economy. Haughney reports that that Cadbury had a 30 percent rise in profits for 2008, Nestlé’s profits grew by 10.9 percent and Hershey, which struggled for much of last year, saw profits jump by 8.5 percent in the fourth quarter. Lindt & Sprüngli, which offers more expensive products, also reportedly expects chocolate sales to remain strong through mainstream retailers like Wal-Mart and Target, even though it plans to close some of its luxury retail stores this year. Theories vary as to exactly why candy sales are sweet, Haughney writes, but include the notion that candy is relatively inexpensive and “seems to conjure memories of times before bank collapses and government bailouts.” She writes that store owners and manufacturers find…
Tag Archives chocolate
Since May 2002 California plaintiffs have reportedly brought enforcement actions against a number of food manufacturers and fast food restaurants claiming that because carcinogens or reproductive toxicants are contained in their products, they are required to provide public warnings under the Safe Drinking Water and Toxic Enforcement Act. This law, also known as Proposition 65 (Prop.65), was approved by state voters in November 1986. It requires the governor to publish a list of chemicals known to the state to cause cancer, birth defects or other reproductive harms. Companies selling products in California must provide warnings if such substances are contained in their products. Private citizens are empowered under the Act to sue alleged violators to enjoin future violations and obtain civil penalties for past violations. Plaintiffs in American Environmental Safety Institute v. Mars, Inc., No. BC273433 (Cal. Super. Ct., Los Angeles Cty., filed May 8, 2002), allege that chocolate contains the…
