Cocoa cost
Snack growth
Chocolate volume
Quick view
cocoa + tariff costs chocolate confectionery cocoa-cost exposed pass cost into price salty-snack segment low cocoa exposure via confectionery distribution cost bypasses snacks two-part pivot rotate growth into snacks compounding loop chocolate volume pricier chocolate drifts demand · Halloween share erodes hold if margin rebuild outpaces the slide snack compounding compounds ~20%+ growth share climbs toward ~20% the stated ambition branch gate both must hold growth leg material P&L-changing engine stays a satellite snack mix unchanged satellite feedback · compounding reinvests, sustaining the climb