Swiss chocolate maker Lindt & Sprüngli has cut its forecast for 2026 organic sales growth to 0–2%, down from 4–6%, after orders fell short of expectations in Germany, Switzerland and Austria. The company cited weaker consumer sentiment, greater price sensitivity, and a European summer heatwave.
“Necessary price increases due to historically high cocoa prices in recent years, and subdued consumer sentiment led to weaker-than-expected order volumes in certain European markets, particularly in seasonal businesses,” said CEO Adalbert Lechner.
Meanwhile, demand in North America and Asia remained robust, the company said. Lindt has not reported a full-year sales decline; a 0–2% growth forecast does not mean revenue has already fallen.
The announcement prompted a sharp market reaction. Reuters reported that Lindt shares were down 6.6% in early trading on Tuesday, 29 September 2026, and had touched their lowest level since March 2021. Vontobel analysts told Reuters that a second forecast cut within six months could damage the company’s reputation for reliable guidance.
An unprecedented heatwave this summer additionally weighed on sales in Europe.
Criticism Of Lindt’s Leadership
Lindt kept its expectation that its 2026 operating profit margin would improve by 20–40 basis points from the previous year. It also maintained its longer-term ambition of 6–8% annual organic sales growth from 2028. Lechner said the company would adjust its pricing, invest more in its brands and pursue cost savings, with a goal of returning to positive sales-volume growth in 2027.
The warning has also drawn criticism of Lindt’s leadership.
A Swiss financial blog blamed chairman Ernst Tanner’s store expansion and marketing strategy for the slowdown and raised questions about his share sales and the company’s foundations.
Under the microscope is “Tanner’s insane expansion” as the president and his managers have recently opened dozens of new Lindt shops worldwide.
Lindt reported CHF 5.92 billion in sales and 12.4% organic sales growth in 2025. The cut to its 2026 forecast is therefore a marked change in outlook. Its next scheduled update on 2026 net sales is 19 January 2027.
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