With Halloween sales that allowed it to get ahead of supply chain issues plaguing the retail industry, Hershey's Chocolate has performed as expected, allowing the company to bump its annual sales forecast on Thursday.

“We are raising both sales and earnings guidance for 2021 to reflect elevated consumer demand across markets, an improved tax outlook and optimized brand investment, which, collectively, are expected to more than offset higher supply chain costs and inflation,” Chief Executive Officer and The Hershey Company President Michele Buck said in a press release.

"As we head into the final days of Halloween, sales and sell-through are both looking strong. We expect this strength to flow into the holiday season as more family gatherings occur this year," she said to Reuters.

The National Retail Federation conducted a survey that reported consumer spending on Halloween-related items could reach $10.14 billion versus $8.05 billion in 2020, nearing pre-pandemic levels.

Hershey expects its full-year net sales growth to be between 8% and 9%, up from previous estimates of 6% to 8%. Its expected adjusted earnings per share outlook ranges between $6.98 and $7.11.

The company earned $2.10 per share on an adjusted basis, which beat estimates of $2.

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