(Bloomberg) -- Lindt & Spruengli AG said its investments in the U.S. market helped put sales of Russell Stover on track for their first annual rebound since the Swiss chocolate maker acquired the ailing brand five years ago.
Russell Stover sales grew in the first half, the Kilchberg-based company said Tuesday. New product introductions and demand for the label's sugar-free stevia line boosted total revenue, which rose 6.2% on an adjusted basis. Lindt shares rose as much as 2.5%.
The results may be a signal that the worst is over in the U.S. as the company becomes better equipped to compete with rivals Hershey Co. and Mars Inc. Lindt became the third-largest chocolate maker in that market when it bought Russell Stover in 2014. The purchase weighed on sales growth for years as Lindt weeded out less-profitable products.
Lindt reiterated its forecast for organic sales growth of 5% to 7% and a 0.2 to 0.4 percentage point improvement in its operating margin.
To contact the reporter on this story: Corinne Gretler in Zurich at cgretler1@bloomberg.net
To contact the editors responsible for this story: Eric Pfanner at epfanner1@bloomberg.net, Thomas Mulier, John Lauerman
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