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Hershey Net Sales Increase 7.5% in Q3, Updates Outlook for 2012
date:Oct 29, 2012
, in line with our estimates, as net price realization, supply chain efficiencies and productivity gains more than offset higher input costs. Selling, marketing and administrative (SMA) expenses, excluding advertising, increased 12 percent in the third quarter, less than our estimate of a 15 to 20 percent increase, and is up about 9 percent year-to-date.

We would expect another meaningful increase, in the fourth quarter, resulting in a low double-digit percentage increase for the full year, in

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