Nielsen Report: Looking Through Easter-Timing Distortions, Post-Holiday Promo Lull, and Early Signs of Consumer Pressure

Research evidence excerpt

Nielsen Report: Looking Through Easter-Timing Distortions, Post-Holiday Promo Lull, and Early Signs of Consumer Pressure

Equity Research

Industry Update — May 12, 2026

Containers & Packaging

Nielsen Report: Looking Through Easter-

Timing Distortions, Post-Holiday Promo Lull,

and Early Signs of Consumer Pressure

Short-term trends still reflect holiday timing as promos

ease; Consumer pressure worth monitoring as comps

normalize

Our Call Gabe Hajde

Easter timing again skews the ST data, yet underlying trends remain fairly constant: Equity Analyst | Wells Fargo Securities, LLC

Gabe.Hajde@wellsfargo.com | 216-470-8960

relative resilience in bev cans while glass remains firmly -ve (and appears most exposed to

Richard C Carlson, CFAdiscretionary spend). PET largely water/sports drinks driven.

Associate Equity Analyst | Wells Fargo Securities, LLC

Richard.Carlson@wellsfargo.com | 212-214-5045

Bi-weekly Nielsen report. In this bi-weekly report, we showcase the latest Nielsen Bailey Gordon

equivalized volume scanner data across different bev (and some food) categories by Associate Equity Analyst | Wells Fargo Securities, LLC

substrate including soft drinks (CSDs), beer, energy drinks, sparkling water, and others. Bailey.Gordon@wellsfargo.com | 212-214-3310

Given potential for volatility in the 1-week volume changes (i.e., holiday timing), we tend

to focus on (though not exclusively) the 4-and 12-week y/y volume changes to identify

trends and inflections that are likely impacting Container stocks.

Aluminum cans: Given y/y anomalies we are mostly focusing on 12-wk data this period.

On this basis, total bev can vols were +1.6% as CSDs cont to show some resilience w/ 1.9%

growth. Energy bevs remain a key +ve with 9.3% growth (though now lapping DD comps

on 1 & 4-wk basis).