Tootsie Roll

In: Business and Management

Submitted By cmmobley1977
Words 535
Pages 3
Tootsie Roll
Charles M Mobley
University of Phoenix

Tootsie Roll
Tootsie Roll Industries is a world leading candy company. The company began during 1896 in New York City ("Company Information," 2011). Leo Hirshfield began crafting the confections at his local shop. The delicious candy sold for one penny. The Tootsie Roll launched Hirshfield’s modest shop into a multinational corporation. The company headquartered in Chicago produces 62 million Tootsie Roll candies daily ("Company Information," 2011). The company has grown to include some of the world’s favorite candies. Tootsie Brand candies include the Tootsie Pop, Charms Blow Pop, Sugar Daddy, Dubble Bubble, and Junior Mints. The company has 22 candy brands ("Company Information," 2011).
Tootsie Roll has annual sales of nearly 500 million dollars ("Company Information," 2011). The company is one of the leading candy producers in the world. Tootsie Roll Industries believes a family culture and progressive management will produce a leading company within the candy industry. Forbes Magazine has recognized the company as one of “Americas 200 Best Small Companies.” Business Ethics Magazine calls Tootsie Roll Industries on of the “100 Best Corporate Citizens” ("Company Information," 2011). The company’s commitment to ethics and integrity carries over into communities and national interests. Tootsie Rolls’ are a part of the U.S. militaries rations.
Tootsie Roll Industries product sales in 2007 were 493 million. In 2006 sales were 496 million (Kimmel, Weygandt, & Kieso, 2009). The food industry has experienced a rise in production costs. The cost of ingredients has risen in the candy industry. The U.S. dollar has weakened translating into higher manufacturing costs in foreign countries (Kimmel et al., 2009).
Through the downturn in the economy Tootsie Roll Industries continues to focus on the…...

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