October 28, 2016 / 1:37 PM / 2 years ago

BRIEF-Hershey CEO- Expect FY capex to be at low end of $265 mln-$275 mln range

Oct 28 (Reuters) - Hershey

* CEO on conf call - given uncertain outlook in international markets over near term, will continue to assess investment mix across the enterprise

* CEO on conf call - Q3 net sales in India declined versus year-ago period due to discontinuance of the edible oil business

* CEO on conf call - in China the modern trade hyper market environment continues to be challenging

* Estimate that our e-commerce business has about 10 percent share of market in China, look to build on that, driven by singles day in november

* CFO- expect advertising and related consumer marketing expense will increase in fourth quarter

* CFO- total advertising and related consumer marketing expense declined about 9.6 percent in third quarter

* CFO- 2016 China gross sales forecast to decline, but net sales expected to increase as don’t anticipate same level of direct trade, returns, discounts allowances as last year

* CFO- expect full-year capex to be at low end of our $265 million to $275 million range

* COO- snacking is growing faster than total food market and within that seeing a lot of growth in indulgent snacking, “think it’s a real opportunity”

* Taken over from Brazil JV, now have control over our distribution there and seeing great results from that, even given difficult operating environment

* CEO- think people across all income levels beginning to spend a little bit more confidently than they have before

* CEO- “there’s evidence that the consumer ... Is having a greater frequency in the store” Further company coverage:

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