COVID cuts into Tootsie Roll candy channels, 2020-11-13

CHICAGO — The closing of certain channels where its products are sold led to lower earnings and sales at Tootsie Roll Industries, Inc. in the third quarter. Net income in the third quarter ended Sept. 30 totaled $24.67 million, equal to 37¢ per share on the common stock, down 17% from $29.85 million, or 44¢ per share, in the same period a year ago. Net sales decreased 14% to $156.96 million from $181.91 million. “Third-quarter sales were adversely impacted by the effects of the COVID-19 . . .
Income falls 17%; sales down 14% in third quarter.

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