“On one hand, as we explained, we think that the chocolate situation will significantly improve and that will allow us also to invest more into North America.”

How to check this claim

Look at: Cocoa/chocolate input cost trend and reinvestment in North America segment (e.g., A&C spending or margin commentary specific to NA)

It came true if: Company reports improved chocolate/cocoa cost environment (declining cocoa costs year-over-year) alongside increased North America investment (higher A&C spend or improved NA segment income margin) by FY2026

Where: Company earnings releases and management commentary (10-K/10-Q segment disclosures, earnings calls) through FY2026

Verify independently

SEC filings for MDLZ ↗ · Claim quote is verbatim from the 2025Q3 earnings call.