Sweet Y2K Solution...Hershey Shareholders Out Another $300+ Million Today

Sweet Y2K Solution...Hershey Shareholders Out Another $300+ Million Today

Post by Paul LeBlan » Wed, 29 Dec 1999 04:00:00




> --> Snipped From
> http://rd.yahoo.com/finance/external/cbsm/*http://cbs.marketwatch.com...
> ive/19991228/news/current/hsy.htx?source=blq/yhoo&dist=yhoo

> Hershey Foods issues earnings warning
> 1999 earnings per share to be below its estimate

> HERSHEY, Pa. (CBS.MW) -- Hershey Foods Corp. said it may report 1999 earnings
> per share below its previous estimate as earlier customer service and order
> fulfillment issues resulted in disappointing December sales.

> Shares of Hershey (HSY: news, msgs) slipped 2 5/16, or 4.6 percent, to 47 13/16
> on volume of 1.13 million shares.

> On Tuesday, the candy maker said that the strong customer order demand it was
> experiencing at the time it announced third-quarter results didn't hold during
> the whole of the fourth quarter. See press release.

> As a result, Hershey said its 1999 earnings from continuing operations could be
> up to 10 cents per share below the $2.16 to $2.20 estimate announced on Oct.
> 25.

> The company said it's sales performance was in line with the the company's
> expectations for the fourth quarter until December, when increased costs
> associated with customer service issues began to affect sales. Sales in
> December will be lower-than-expected, Hershey said.

> In an Oct. 25 press release, Hershey's announced third-quarter earnings of
> $87.6 million, or 62 cents a share, compared to $107.5 million, or 74 cents a
> share, in the year-ago period. Wall Street analysts expected a profit of 60
> cents a share.

> The company had said the 18 percent drop in profits was due to glitches in
> customer service, warehousing and order fulfillment since the July start-up of
> new business processes in the areas of customer service.

> Representatives at the company refused to comment...

Am I wrong or did they astutely avoid using the word, "computer" to
describe their screwups?

Amazing!  Now it's customer service screwups, not systems screwups.  Of
course!  This is what the media is all about - twisting each and every
story to suit it's preconceived, predetermined notions of what they'd
like to see happen with systems (nothing).

I used to respect the media (out of stupidity).  No more.

 
 
 

Sweet Y2K Solution...Hershey Shareholders Out Another $300+ Million Today

Post by Bob Broc » Wed, 29 Dec 1999 04:00:00




>> --> Snipped From

http://rd.yahoo.com/finance/external/cbsm/*http://cbs.marketwatch.com...

Quote:>> ive/19991228/news/current/hsy.htx?source=blq/yhoo&dist=yhoo

>> Hershey Foods issues earnings warning
>> 1999 earnings per share to be below its estimate

>> HERSHEY, Pa. (CBS.MW) -- Hershey Foods Corp. said it may report 1999
earnings
>> per share below its previous estimate as earlier customer service and
order
>> fulfillment issues resulted in disappointing December sales.
>> <snip>
>> The company said it's sales performance was in line with the the
company's
>> expectations for the fourth quarter until December, when increased costs
>> associated with customer service issues began to affect sales. Sales in
>> December will be lower-than-expected, Hershey said.
>> <snip>

>   "Increased costs associated with customer service issues"?  The PR
>spinmeisters have been working, even if the software isn't...

Does this mean that Hershey's will be closing their doors this month or
next?

 
 
 

Sweet Y2K Solution...Hershey Shareholders Out Another $300+ Million Today

Post by Theo » Thu, 30 Dec 1999 04:00:00


--> Snipped From
http://rd.yahoo.com/finance/external/cbsm/*http://cbs.marketwatch.com...
ive/19991228/news/current/hsy.htx?source=blq/yhoo&dist=yhoo

Hershey Foods issues earnings warning
1999 earnings per share to be below its estimate

HERSHEY, Pa. (CBS.MW) -- Hershey Foods Corp. said it may report 1999 earnings
per share below its previous estimate as earlier customer service and order
fulfillment issues resulted in disappointing December sales.

Shares of Hershey (HSY: news, msgs) slipped 2 5/16, or 4.6 percent, to 47 13/16
on volume of 1.13 million shares.

On Tuesday, the candy maker said that the strong customer order demand it was
experiencing at the time it announced third-quarter results didn't hold during
the whole of the fourth quarter. See press release.

As a result, Hershey said its 1999 earnings from continuing operations could be
up to 10 cents per share below the $2.16 to $2.20 estimate announced on Oct.
25.

The company said it's sales performance was in line with the the company's
expectations for the fourth quarter until December, when increased costs
associated with customer service issues began to affect sales. Sales in
December will be lower-than-expected, Hershey said.

In an Oct. 25 press release, Hershey's announced third-quarter earnings of
$87.6 million, or 62 cents a share, compared to $107.5 million, or 74 cents a
share, in the year-ago period. Wall Street analysts expected a profit of 60
cents a share.

The company had said the 18 percent drop in profits was due to glitches in
customer service, warehousing and order fulfillment since the July start-up of
new business processes in the areas of customer service.

Representatives at the company refused to comment...

 
 
 

Sweet Y2K Solution...Hershey Shareholders Out Another $300+ Million Today

Post by MarieMous » Thu, 30 Dec 1999 04:00:00


mmmmmmmmmmmmmmmmm  chocolate candy :o)

if u never been to hershey u should go the lights are hershey kisses
and the town smells like chocolate ......which reminds me i have a
candy bar waiting for me

--
bye   ~~~(,_,):>

Sent via Deja.com http://www.deja.com/
Before you buy.

 
 
 

Sweet Y2K Solution...Hershey Shareholders Out Another $300+ Million Today

Post by Ralph Daughert » Thu, 30 Dec 1999 04:00:00



> --> Snipped From
> http://rd.yahoo.com/finance/external/cbsm/*http://cbs.marketwatch.com...
> ive/19991228/news/current/hsy.htx?source=blq/yhoo&dist=yhoo

> Hershey Foods issues earnings warning
> 1999 earnings per share to be below its estimate

> HERSHEY, Pa. (CBS.MW) -- Hershey Foods Corp. said it may report 1999 earnings
> per share below its previous estimate as earlier customer service and order
> fulfillment issues resulted in disappointing December sales.
> <snip>
> The company said it's sales performance was in line with the the company's
> expectations for the fourth quarter until December, when increased costs
> associated with customer service issues began to affect sales. Sales in
> December will be lower-than-expected, Hershey said.
> <snip>

   "Increased costs associated with customer service issues"?  The PR
spinmeisters have been working, even if the software isn't...

 Ralph

 
 
 

Sweet Y2K Solution...Hershey Shareholders Out Another $300+ Million Today

Post by Bradley K. Sherm » Thu, 30 Dec 1999 04:00:00




>Shares of Hershey (HSY: news, msgs) slipped 2 5/16, or 4.6 percent, to 47 13/16
>on volume of 1.13 million shares.

Is 47 the bottom or can it go lower?

    --bks

 
 
 

Sweet Y2K Solution...Hershey Shareholders Out Another $300+ Million Today

Post by Dave Koste » Thu, 30 Dec 1999 04:00:00




Quote:> --> Snipped From

http://rd.yahoo.com/finance/external/cbsm/*http://cbs.marketwatch.com...

Quote:> ive/19991228/news/current/hsy.htx?source=blq/yhoo&dist=yhoo

> Hershey Foods issues earnings warning
> 1999 earnings per share to be below its estimate

> HERSHEY, Pa. (CBS.MW) -- Hershey Foods Corp. said it may report 1999
earnings
> per share below its previous estimate as earlier customer service and
order
> fulfillment issues resulted in disappointing December sales.

> Shares of Hershey (HSY: news, msgs) slipped 2 5/16, or 4.6 percent, to 47
13/16
> on volume of 1.13 million shares.

> On Tuesday, the candy maker said that the strong customer order demand it
was
> experiencing at the time it announced third-quarter results didn't hold
during
> the whole of the fourth quarter. See press release.

> As a result, Hershey said its 1999 earnings from continuing operations
could be
> up to 10 cents per share below the $2.16 to $2.20 estimate announced on
Oct.
> 25.

> The company said it's sales performance was in line with the the
company's
> expectations for the fourth quarter until December, when increased costs
> associated with customer service issues began to affect sales. Sales in
> December will be lower-than-expected, Hershey said.

> In an Oct. 25 press release, Hershey's announced third-quarter earnings
of
> $87.6 million, or 62 cents a share, compared to $107.5 million, or 74
cents a
> share, in the year-ago period. Wall Street analysts expected a profit of
60
> cents a share.

> The company had said the 18 percent drop in profits was due to glitches
in
> customer service, warehousing and order fulfillment since the July
start-up of
> new business processes in the areas of customer service.

> Representatives at the company refused to comment...

Better to be thought a SAP..?

dk

- Show quoted text -

 
 
 

Sweet Y2K Solution...Hershey Shareholders Out Another $300+ Million Today

Post by Steve Dove » Thu, 30 Dec 1999 04:00:00



[snip]

> Better to be thought a SAP..?

Than to install it in a hurry.

--
Are you ready for year MM?
The Mother of all Messes.
2 Days to go before 'Ignorance is bliss' is obsolete.

 
 
 

Sweet Y2K Solution...Hershey Shareholders Out Another $300+ Million Today

Post by Dave Koste » Thu, 30 Dec 1999 04:00:00





> [snip]

> > Better to be thought a SAP..?

> Than to install it in a hurry.

:-)LOL

dk

> --
> Are you ready for year MM?
> The Mother of all Messes.
> 2 Days to go before 'Ignorance is bliss' is obsolete.


 
 
 

Sweet Y2K Solution...Hershey Shareholders Out Another $300+ Million Today

Post by Montgomery Burn » Fri, 31 Dec 1999 04:00:00




>> --> Snipped From
>> http://rd.yahoo.com/finance/external/cbsm/*http://cbs.marketwatch.com...
>> h
>> ive/19991228/news/current/hsy.htx?source=blq/yhoo&dist=yhoo

>> Hershey Foods issues earnings warning
>> 1999 earnings per share to be below its estimate

>> HERSHEY, Pa. (CBS.MW) -- Hershey Foods Corp. said it may report 1999
>> earnings
>> per share below its previous estimate as earlier customer service and
>> order
>> fulfillment issues resulted in disappointing December sales.

>> Shares of Hershey (HSY: news, msgs) slipped 2 5/16, or 4.6 percent, to
>> 47 13/16
>> on volume of 1.13 million shares.

>> On Tuesday, the candy maker said that the strong customer order demand
>> it was
>> experiencing at the time it announced third-quarter results didn't hold
>> during
>> the whole of the fourth quarter. See press release.

>> As a result, Hershey said its 1999 earnings from continuing operations
>> could be
>> up to 10 cents per share below the $2.16 to $2.20 estimate announced on
>> Oct.
>> 25.

>> The company said it's sales performance was in line with the the
>> company's
>> expectations for the fourth quarter until December, when increased costs
>> associated with customer service issues began to affect sales. Sales in
>> December will be lower-than-expected, Hershey said.

>> In an Oct. 25 press release, Hershey's announced third-quarter earnings
>> of
>> $87.6 million, or 62 cents a share, compared to $107.5 million, or 74
>> cents a
>> share, in the year-ago period. Wall Street analysts expected a profit of
>> 60
>> cents a share.

>> The company had said the 18 percent drop in profits was due to glitches
>> in
>> customer service, warehousing and order fulfillment since the July
>> start-up of
>> new business processes in the areas of customer service.

>> Representatives at the company refused to comment...

>Am I wrong or did they astutely avoid using the word, "computer" to
>describe their screwups?

and the only mention of SAP was in "disappointing".

har de har har
--
MB

 
 
 

1. $100 MILLION In Lost Sales From $112 MILLION Hershey SAP-Based System?

--> Snipped From http://biz.yahoo.com/rf/991029/2s.html

FOCUS-Computer glitch haunts Hershey's Halloween sales
(Updates; edits; adds comment from Kroger in 15th graf)

By David Morgan

PHILADELPHIA, Oct 29 (Reuters) - Halloween could turn out to be a real horror
story for Hershey Foods Corp. (NYSE:HSY - news), the leading U.S. candy maker,
whose distribution channels continue to be haunted by problems with a new
computer system, analysts say.

The maker of Hershey's chocolate bars and Kisses, Reese's Peanut Butter Cups,
Kit Kats and Twizzlers has not been able to get all of its Halloween inventory
onto store shelves soon enough to fill the plastic orange jack-o'-lanterns of
trick-or-treaters, who are expected to stalk American neighborhoods on Sunday
evening.

Analysts on Wall Street had expected the gremlin in Hershey's $112 million
order-and-distribution system to be exorcised by mid-October. But now they fear
lingering problems could jinx candy sales through Christmas and maybe even into
Easter.

``This is serious stuff. The fourth quarter represents about 40 percent of
profits, and Hershey could lose $100 million in sales between back to school,
Halloween, Thanksgiving and Christmas,'' said Merrill Lynch analyst Leonard
Teitelbaum.

The Hershey, Pa.-based company had $4.44 billion in revenues last year.

Most serious is the potential for a 0.5 percent loss in U.S. market share to
privately held Mars Inc. and Nestle SA , as consumers who find store shelves
bare of Hershey products switch to rival brands.

Hershey, which has had no production problems, also must face the potential
costs posed by pallets of undelivered ``Cat 'O' Lantern'' milk chocolate
snacks, Reese's Peanut Butter ``Pumpkins'' and other seasonal goods marketed in
highly decorated holiday wrappers only at this time of year.

The company's computer system, which uses software from SAP AG and Siebel
Systems Inc. (NasdaqNM:SEBL - news), began operating in July. But it quickly
presented the 1,200-strong sales force with a steep learning curve. Managers
are now expected to have the upper hand by the first quarter of 2000.

Industry executives believe Hershey has not been able to fill orders at 100
percent and has resorted to flying some shipments out to keep relations sweet
with key customers such as Kmart Corp. (NYSE:KM - news) and Wal-Mart Stores
Inc. (NYSE:WMT - news).
...

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