Kansas City-based candy company Russell Stover was tagged by its Swiss parent company for depressing overall sales growth in the first half of 2016.
Reuters reports that sales growth for Swiss chocolatier Lindt & Sprüngli hit 4.4 percent for the first half of the year. Without Russell Stover in the mix, the parent company’s growth would have been 6.6 percent.
Lindt, which bought Russell Stover in 2014, attributed the weak showing to falling sales as it cut poor-selling product lines and unprofitable promotions. Chief Executive Ernst Tanner said that by the end of the year, he expects the company to have a product mix and promotional strategy to improve results, including non-seasonal snacks and chocolates.
Tanner expressed confidence that financial results will improve in the second half of the year as a result of the product changes.