Lindt & Sprüngli Shares Tumble After Slashing 2026 Sales Forecast

Shares of Chocoladefabriken Lindt & Sprüngli AG plunged on Tuesday after the Swiss premium chocolatier sharply downgraded its full-year organic sales growth forecast, citing flagging consumer demand in Europe and the impact of historically high cocoa prices.

Sales Forecast Cut

The company announced before the market open on September 29 that it now expects organic sales growth for 2026 to be in the range of 0% to 2%, a significant reduction from its previous guidance of 4% to 6%. The warning sent the company's stock down as much as 6.5% to a new 52-week low.

In a statement, CEO Adalbert Lechner attributed the revision to several pressures:

• Price Hikes: Necessary price increases driven by "historically high cocoa prices" have led to increased price sensitivity among consumers.
• Weak European Demand: Weaker-than-expected order volumes were most acute in Germany, Switzerland, and Austria, particularly in the seasonal business segment.
• Weather Impact: A summer heatwave in Europe reduced growth by an estimated 1.5%.

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Margin Stability and Market Reaction

Despite the bleak revenue outlook, Lindt offered some reassurance by confirming its 2026 forecast for an EBIT margin improvement of 20 to 40 basis points over the prior year. The company also reiterated its medium-to-long-term organic growth target of 6% to 8% from 2028 onwards.

However, the severity of the top-line guidance cut overshadowed the stable margin outlook for investors. The stock's sharp decline to a new 52-week low of 7,805 CHF intraday reinforced a prolonged downward trend for the shares. In contrast to the European weakness, the company noted that its operations in North America and Asia continued to perform robustly.