Brief: Lindt says chocolate prices may rise in 2020, 2021 due to higher input costs

Chocoladefabriken Lindt & Spruengli AG

14/01/2020 10:01

Jan 14 (Reuters) - Lindt & Spruengli  LISN.S :
    * CFO SAYS SALES AT RUSSELL STOVER POSITIVE IN H2 AND FULLY
IN
LINE WITH OUR EXPECTATIONS
    * CFO SAYS PLANS TO CLOSE 50 STORES IN THE U.S. IN THE
COMING
YEARS IN LOW-TRAFFIC OUTLET MALLS, STILL WANTS TO OPEN STORES IN
MARKETS LIKE GERMANY OR JAPAN
    * CFO SAYS HE SEES CAPEX GOING UP TO 300-350 MILLION SFR IN
2020
AND 2021, FROM 250-300 MILLION SFR IN 2019
    * CFO SAYS EXPECTS SALES GROWTH OF AROUND 5% IN NORTH
AMERICA IN
2020, INCLUDING 1-3% AT RUSSELL STOVER
    * CFO SAYS IT IS LIKELY THAT CHOCOLATE INDUSTRY WILL
INCREASE
PRICES IN 2021 DUE TO HIGHER INPUT COSTS, WEST AFRICAN PREMIUM
ON COCOA BEAN PRICES

Further company coverage:  LISN.S 

 (Reporting by Silke Koltrowitz)
 ((silke.koltrowitz@thomsonreuters.com;))