Your NPR news source

Weak Dollar Helps Wrigley Profits

SHARE Weak Dollar Helps Wrigley Profits

Chicago-based Wrigley Company reported earnings today of almost $200-million, beating analyst expectations. That’s a 14-percent jump over the same quarter last year.

Wrigley says record international sales spurred the earnings. Ukraine, Russia, Indonesia, Vietnam, Malaysia, all big winners for the gum giant. The company attributes a large share of that to the weak dollar.

In the U.S., Wrigley actually sold less candy. But with higher prices, it snagged extra revenue.

Profits totalled 74-cents per share during the second quarter. It’s a bit less if you count expenses related to Wrigley’s proposed merger with Mars. The Virginia-based M&M maker is buying Wrigley in a deal worth about $23-billion.

The Latest