Swiss premium chocolate maker Lindt & Sprüngli said it now expects organic sales growth of just 0–2% in 2026, well below its usual 6–8% target, after supermarkets in Germany, Austria and Switzerland ordered less for the Christmas season and a hot summer hurt European demand. It was the company's second downgrade in six months, and its shares fell almost 8% at the open, leaving them down about 40% for the year. The setback matters because analysts say it tests the pricing power behind Lindt's premium valuation: after raising prices 40–50% over three years amid soaring cocoa costs, it now expects volumes to recover only next year and normal growth by 2028.