Brief: Chocolate Maker Lindt Not Seeing Big Impact From Virus Outbreak

Chocoladefabriken Lindt & Spruengli AG

03/03/2020 10:22

March 3 (Reuters) - Lindt & Spruengli AG  LISN.S :
    * LINDT CFO SAYS CHOCOLATE INDUSTRY TO FACE PRESSURE IN 2021
FROM
HIGHER COCOA BEAN PRICES
    * LINDT CEO SAYS ITS SALES IN REGIONS AFFECTED BY
CORONAVIRUS ARE
QUITE LOW, SO NO BIG IMPACT
    * LINDT CEO SAYS HAS SEEN IMPACT ON TOURIST PURCHASES OVER
THE
LAST TWO TO THREE WEEKS, FOR EXAMPLE AT AIRPORTS OR OWN STORES
    * LINDT CEO SAYS CO HAS TRAVEL BAN IN PLACE, IN PARTICULAR
TO
REGIONS AFFECTED BY CORONAVIRUS
    * LINDT CEO SAYS DOES NOT CONSIDER SELLING AT HARD
DISCOUNTERS
    * LINDT CEO SAYS IS WORKING ON VEGAN CHOCOLATE, BUT TASTE IS
NOT
EASY TO ACHIEVE
    * LINDT CEO SAYS PRICE INCREASES FOR CHOCOLATE ARE
INEVITABLE DUE
TO GHANA, IVORY COAST PREMIUM, NOT ONLY FOR LINDT BUT FOR
INDUSTRY AS A WHOLE
    * LINDT CEO SAYS NOBODY IN CHOCOLATE INDUSTRY CAN GUARANTEE
THAT
PRODUCTS ARE COMPLETELY FREE FROM CHILD LABOUR
    * LINDT CEO SAYS EASTER CHOCOLATES ALREADY DELIVERED,
APRIL-MAY IS
LOW SEASON FOR CHOCOLATE SO LESS OF A PROBLEM IF CORONAVIRUS
HITS PRODUCTION
    * LINDT CEO SAYS MUCH LOWER TRAVEL RETAIL SALES WOULD NOT
THREATEN
ORGANIC GROWTH TARGET FOR THIS YEAR
    * LINDT CEO SAYS WILL ASSESS WHAT TO DO WITH EXCESS CASH,
CERTAINLY DOESN'T WANT TO PAY NEGATIVE INTEREST RATES

Further company coverage:  LISN.S 

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