Lindt slumps as outlook cut spurs volumes, pricing concerns

Chocoladefabriken Lindt & Spruengli AG

10/03/2026 09:03

** Lindt & Spruengli LISN.S shares fall about 6% after the chocolate maker cut its 2026 growth outlook due to ongoing geopolitical uncertainties

** The Swiss company expects 2026 sales to grow 4-6%, which is a cut from the previous 6-8% and below the analyst consensus of 6.8%

** J.P. Morgan notes that the early guidance cut will raise questions about past pricing, ways to boost weak volumes, and the risk of price cuts as cocoa prices decline

**"This will likely fuel the bears' doubts about Lindt's ability to reignite volumes. We forecast around 7% pricing, implying roughly a 2% volume decline at the midpoint," Vontobel adds

** Shares on track for worst day since July, if losses persist

** They sit at the bottom of Switzerland's midcap index .SMIM

(Reporting by Danny Callaghan and Bernadette Hogg)

((danny.callaghan@thomsonreuters.com))