FOOD PRODUCTS : U.S. Nielsen Quick Take - Data Ending 05/16/26

Research evidence excerpt

FOOD PRODUCTS : U.S. Nielsen Quick Take - Data Ending 05/16/26

EQUITIES

FOOD & HPC

FOOD PRODUCTS

U.S. Nielsen Quick Take – Data Ending 05/16/26

This morning, we received updated U.S. Nielsen data through 05/16/26. We generally see results as26 MAY 2026

Sector Research Report a positive sign for the industry as the Large-Cap U.S. Packaged Food group's dollar sales trends

Production time: 12:35* (London time)

improved sequentially by +90 bps to +0.8% YOY from the L12W to the L4W, with the rate of unit

Research Analysts & Publishing Entities

decline moderating by +50 bps to -4.1% YOY, and price/mix improving by +40 bps to +5.3% YOY.

Max Gumport

BNP Paribas Securities Corp1 CPB, GIS, MDLZ, & SJM’s improvement stands out; HSY, MKC, & SFD’s trends worsen(+1) 917 583 4529

max.gumport@us.bnpparibas.com CPB, GIS, MDLZ, & SJM’s improvement stands out with the rate of dollar sales growth for each

company improving by at least +240 bps from the L12W to the L4W. On the other hand, HSY, MKC,

Alex Hilsenrath

& SFD stand out on the other end as dollar sales trends worsened by -90 bps or more from the L12WBNP Paribas Securities Corp1

(+1) 646 342 5084 to the L4W. Importantly, we’d note that the four weeks in the year ago period contain the four weeks

alex.hilsenrath@us.bnpparibas.com following Easter, while the current four-week period is now well beyond Easter. In general, the week

John McDonald following Easter Sunday can be a smaller week of sales for most packaged food categories, but for

BNP Paribas Securities Corp1 some categories, such as confectionery, it is typically a larger week of sales. Over the last three

(+1) 646 342 5683 weeks, HSY’s dollar sales are running up ~+5% YOY, a marked improvement from the L12W.john.mcdonald@us.bnpparibas.com