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via economictimes.indiatimes.comBusiness & Companies

Lindt admits it misjudged consumer appetite for price hikes after CEO ouster

FROM THE WIRE · ECONOMICTIMES.INDIATIMES.COM

Lindt & Sprungli's executive chairman announced that the company misjudged customer reactions to recent price hikes. After increasing prices due to high cocoa costs, sales have reportedly declined in Germany. The company has since begun reducing prices to stimulate sales and…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishFalling sales in Germany and the reversal on prices weigh on the group's near-term outlook.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01The executive chairman admits Lindt misjudged customer reactions to recent price hikes.
  2. 02Sales have reportedly declined in Germany after increases driven by high cocoa costs.
  3. 03The company is reducing prices and plans to maintain growth in the Americas and Far East.

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