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Investing.com -- Shares in Swiss chocolate maker Lindt & Sprüngli fell 7% on Tuesday after the company cut its full-year organic sales growth forecast to 0%-2% from 4%-6%, citing weaker demand in Germany, Switzerland and Austria following price increases and an unusually hot summer.
Investing.com -- Shares in Chocoladefabriken Lindt & Sprüngli fell on Tuesday after the Swiss chocolatier posted first-half results that missed volume expectations and revealed a sharp deterioration in European sales, overshadowing a margin beat driven by cost savings and a standout performance in North America.
The Swiss chocolatier’s shares are heading for their worst quarter in 17 years as consumers push back against nearly 20% price increases.
The Swiss chocolatier beat profit expectations, nudged up its dividend, and kept margins intact even as costs soared.
The price of chocolate for consumers is at a nearly 2-year high, according to Wells Fargo, and it's likely to keep rising. Hershey (HSY), Lindt (CHLSY), and Nestlé (NESN.SW) are some of the companies that have recently announced price hikes, following wild swings in cocoa wholesale markets. So what's making your treats so expensive this Halloween - and what can you do about it? Morning Brief: Market Sunrise Anchor Ramzan Karmali explains. To watch more expert insights and analysis on the latest market action, check out more Morning Brief: Market Sunrise.
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