HPC Scanner: PG qualitatively better. CHD leads, CL improves; CLX stabilizing

Research evidence excerpt

HPC Scanner: PG qualitatively better. CHD leads, CL improves; CLX stabilizing

Consumer | Global Household & Personal Care

+

May 26, 2026

Robert Ottenstein HPC Scanner: PG qualitatively better. CHD

212-653-9020

Robert.Ottenstein@evercoreisi.com leads, CL improves; CLX stabilizing

Javier Escalante

212-446-9477

Javier.Escalante@evercoreisi.com Today's data represents the 2Q midpoint (ending May 17) and

JD Todd reflects competitive dynamics after the spring shelf resets:

212-812-2912

JD.Todd@evercoreisi.com ▪ Beauty +5% in 2Q with last four weeks at +4% ─ Spring

shelf resets driving competitive shifts. OR outperformance

at +180 bps at +6.8%, reflecting haircare premiumization

and trade-up to dermatological skincare (consistent with

WMT commentary). COTY improved on fragrances to (1)%

but CoverGirl still down (5)% post shelf-resets. ELF

accelerated to +7%, entirely on Naturium (+97%), while the

elf franchise, inclusive of skincare items, remains flat.

▪ HPC continues weak, particularly tissue, detergents, and

diapers, consistent with WMT commentary on lower-income

consumer pressure ─Costco activations driving inflection

points: Pampers regaining share, Clorox's pet stabilizing on

promos. PG firmed to +1%, qualitatively better: weakness in

price-sensitive categories, where Procter is also lapping

tough comps, offset improvements in Olay, Native, Old

Spice and Downy ─still best-in-class price/mix at ~3-4%. CL

also at +1%, still driven by Household and manual

toothbrushes ─Hill's +15% at Amazon. CHD (adjusted)

accelerated to +6% as core-category reinvestment (laundry,

oral care, pet) reinforces the strategic benefit of the vitamins

divestiture. KMB (1)%, with Huggies losing share, while

Chinese diapers re-accelerated. KVUE weakens further to