Many of us remember Valentine’s Day from childhood, when we begged our parents to buy oversized bags of candy so we could carefully write “to” and “from” on cards for every classmate.

We handed out little treat bags at school, and even if we didn’t have a special someone, it didn’t matter because everyone received a Valentine. Those were simpler times, at least when it came to love and dating.

Today, Valentine’s Day remains one of the most profitable holidays of the year for candy makers. As the celebration approaches, store shelves are once again filling up with pink- and red-wrapped sweets covered in hearts. Consumerism is unavoidable, and millions of shoppers will soon head to stores to buy treats for their loved ones.

For The Hershey Company (HSY), a household name in chocolate and candy since 1894, holidays have long been a reliable source of sales. But the company is now navigating a more complicated environment.

During Hershey’s third-quarter earnings call, CEO Kirk Tanner revealed that Halloween candy sales had gotten off to a slower start than usual. He attributed part of the softness to Halloween falling on a Friday in 2025, which may have delayed the season’s final sales push.

In response, Hershey revealed plans to increase investments in consumer insights to better refine its product mix, pricing strategies, and packaging, efforts that extend beyond the holiday season. The company is also ramping up digital marketing efforts and continuing to support creative collaborations, such as the popular Reese’s Oreo partnership.

This slight setback may have inspired Hershey to take its holiday offerings to the next level, rolling out more new candy innovations for 2026.

Hershey’s reveals its 2026 Valentine’s Day candy lineup

Hershey has unveiled five new candy products from its classic brands for the 2026 Valentine’s Day season. The company is also bringing back its iconic Hershey’s x Snoopy & Friends ready-to-gift varieties, alongside returning fan favorites.

Hershey’s new 2026 Valentine’s Day candy

  • Reese’s Unwrapped Chocolate Peanut Butter Creme Mini Hearts: Heart-shaped, unwrapped original mini Reese’s
  • Kit Kat Friendship Exchange Milk Chocolate Snack-Size Bears: Bear-shaped original Kit Kats individually wrapped with a “to/from” labeled wrapper
  • Jolly Rancher Awesome Reds Gummies Pouch: Jolly Rancher mix featuring red flavors, including cherry, watermelon, strawberry, pomegranate, and fruit punch
  • Twizzlers Strawberry Twists Snack Size Friendship: Chewy strawberry-flavored twists with a “to/from” labeled wrapper
  • Hershey Valentine’s Shapes Snack Size Assortment: A mix of Reese’s Milk Chocolate Peanut Butter Snack Size Hearts and Kit Kat Milk Chocolate Snack Size Bears

Hershey’s Kisses Milk Chocolate Snoopy & Friends products

  • Hershey’s Kisses Milk Chocolate Snoopy & Friends Gift Box
  • Hershey’s Kisses Milk Chocolate Snoopy & Friends Solid Milk Chocolate
  • Hershey’s Cookies ‘n’ Creme Milk Chocolate Snoopy & Friends 6-Pack

The new Hershey 2026 Valentine’s Day candy lineup and Snoopy & Friends collection are now available nationwide at Target, Walmart, and other major retailers.

Hershey unveils its new 2026 Valentine’s Day candy lineup.

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Hershey’s broader strategy beyond seasonal candy

While Hershey remains the largest chocolate manufacturer in the U.S., reporting a 5.6% year-over-year increase in North America confectionery net sales during the third quarter of fiscal 2025, its fastest-growing segment today is no longer candy.

The company’s salty snack segment posted a 10% increase in net sales during the quarter, highlighting a strategic shift toward categories with more frequent consumption. Unlike candy, which is often tied to holidays and special occasions, snacks benefit from everyday demand.

The global candy market was valued at approximately $73.4 billion in 2025 and is projected to grow at an annual rate of 4.6% through 2030, reaching $97.6 billion, according to Mordor Intelligence. 

Meanwhile, the global salty snack market size was valued at around $250.5 billion in 2021 and is anticipated to reach $386.8 billion by 2030, growing at an annual rate of 4.9%, according to Grand View Research. Growth in this segment is largely fueled by consumers’ demand for healthier snacking options.

More The Hershey Company innovations:

  • Hershey creates wild new holiday candy lineup
  • Hershey rival creates first-ever dream candy combo
  • Hershey creates first-ever seasonal new candy ahead of Halloween

This shift puts Hershey in closer competition with snack giants such as Mondelez and PepsiCo, both of which have leaned heavily into snacks as a long-term growth engine. Hershey’s advantage lies in its ability to balance that expansion while maintaining pricing in its chocolate brands.

With preferences constantly changing, the company has invested heavily in trend forecasting to stay ahead of demand and competition.

“Through thoughtful pack and product innovation grounded in consumer trends and understanding, we help retailers deliver more options and help increase sales,” said The Hershey Company CCO Tiffany Menyhart at the 2025 NACS Show.

Tanner echoed that sentiment during the company’s latest earnings call, emphasizing that a dynamic business environment has led the team to navigate challenges, as it develops new growth strategies without forgetting its core business.

“Innovation is such an important lever for sure, but I think being consistent with innovation is also important in balance with your core business,” said Tanner in the earnings call.

Those efforts appear to be paying off. Hershey’s chocolate retail sales rebounded to 4% growth after a 1% decline in 2024, while sweets penetration increased by 65 basis points through continued innovation and brand investment.

Industry experts weigh in on Hershey’s outlook

Hershey is also facing industry-wide challenges that have impacted the chocolate market since 2024. While the recently imposed U.S. tariffs have contributed, they are just one of several factors disrupting the global supply chain.

West Africa, which produces roughly 70% of the world’s cocoa, has been affected by unpredictable weather patterns and infectious crop diseases, resulting in a significant reduction in cocoa output. This has elevated cocoa prices, pressuring margins across the industry.  

To address the shortage, CFO Steve Voskuil said Hershey is expanding its cocoa sourcing to additional regions. He also noted that the company’s internal models project a larger global supply surplus for the 2025 and 2026 crops compared to the prior season, as production trends normalize and buyers adapt to higher prices. 

“Hershey’s current earnings per share figures, heavily depressed by record cocoa costs and tariffs, are a poor reflection of the company’s true long-term earning power,” said Check Capital Management Managing Director Christopher Ballard in a statement emailed to The Street.

“As recent price increases fully flow into the P&L and cocoa costs continue to moderate, Hershey’s can earn over $10 per share and grow from there. While we initially estimated this recovery for 2026, it may be closer to 2027 due to the severity and persistence of inflation. The key is that the margin recovery path is visible.”

Some analysts remain cautiously optimistic.

“Hershey’s been struggling for the last two-and-a-half years,” said stock analyst Jim Cramer to Insider Monkey. “Now, I think a lot of that’s largely because of the GLP-1 weight loss drugs that have hammered the entire packaged food industry. However, I gotta tell you, I think the worst might be behind this one.”

“We expect recent pricing announcements to drive outsized earnings growth in FY26 with a solid consumer backdrop supporting better-than-expected elasticities, noting Hershey’s historically strong pricing power tied to its iconic brand portfolio,” Goldman Sachs Stock Analyst Leah Jordan wrote in a September note.

What Hershey’s product assortment means for consumers and investors

For consumers, Hershey’s expanding Valentine’s Day lineup meets the demand for new, affordable, and nostalgic gift options. For investors, it highlights the company’s efforts to balance short-term pressures with long-term growth, leveraging brand strength, pricing power, and a growing snacks portfolio to stay competitive in a changing market.

Hershey’s latest earnings results demonstrate that even the most iconic brands must adapt to shifting consumer habits to remain relevant and profitable for years to come.

Related: Hershey teams up with Costco to make a dream candy combo