January 14, 2020 / 10:04 AM / 6 days ago

BRIEF-Lindt says chocolate prices may rise in 2020, 2021 due to higher input costs

Jan 14 (Reuters) - Lindt & Spruengli:

* CFO SAYS SALES AT RUSSELL STOVER POSITIVE IN H2 AND FULLY IN LINE WITH OUR EXPECTATIONS

* CFO SAYS PLANS TO CLOSE 50 STORES IN THE U.S. IN THE COMING YEARS IN LOW-TRAFFIC OUTLET MALLS, STILL WANTS TO OPEN STORES IN MARKETS LIKE GERMANY OR JAPAN

* CFO SAYS HE SEES CAPEX GOING UP TO 300-350 MILLION SFR IN 2020 AND 2021, FROM 250-300 MILLION SFR IN 2019

* CFO SAYS EXPECTS SALES GROWTH OF AROUND 5% IN NORTH AMERICA IN 2020, INCLUDING 1-3% AT RUSSELL STOVER

* CFO SAYS IT IS LIKELY THAT CHOCOLATE INDUSTRY WILL INCREASE PRICES IN 2021 DUE TO HIGHER INPUT COSTS, WEST AFRICAN PREMIUM ON COCOA BEAN PRICES Further company coverage: (Reporting by Silke Koltrowitz)

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