Lindt's Easter chocolate sales fall after price hike
Summary
Lindt's sales fell after it raised chocolate prices by nearly 12%, especially in Europe. The company also faced weaker Easter demand and fewer travelers buying chocolates at airports because of conflicts overseas.Key Facts
- Lindt raised its chocolate prices by 11.8%, which contributed to lower sales in the first half of the year.
- Sales dropped 0.9% overall, with a 2.1% decline in Europe, including the UK, Germany, and Switzerland.
- The amount of chocolate sold (volume) fell by 7.5%.
- Pre-tax profits decreased by 1.5%.
- Airport sales were down due to fewer passengers caused by Middle East conflicts.
- Sales improved in North America, Australia, China, and Japan but these markets are smaller for Lindt.
- Lindt plans to lower prices and increase marketing in some places to boost sales later this year.
- Climate change has hurt cocoa crops, leading to higher chocolate prices worldwide.
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