U.S. HPC – Circana Household & Personal Care Results for the Period Ended May 31st

Research evidence excerpt

U.S. HPC – Circana Household & Personal Care Results for the Period Ended May 31st

J P M O R G A N North America Equity Research

09 June 2026

U.S. HPC – Circana Household &

Personal Care

Results for the Period Ended May 31st

Beverage, Household & Personal

Care Products

Andrea Teixeira, CFA AC

(1-212) 622-6735

andrea.f.teixeira@jpmorgan.com

The latest Circana scanner data for the period ended May 31st, 2026, were released Shovana Chowdhury

this morning. Among the companies we cover, HNST ranked the best in YOY $ (1-212) 270-2184

shovana.chowdhury@jpmorgan.com

takeaway performance on an absolute basis. CLX saw the greatest improvement

Drew Levine, CFA

in YOY $ takeaway trends vs. 4W prior followed by HNST, while COTY, KMB

(1-212) 622-0374

and ELF (from higher to lower magnitude) saw more moderate improvement and drew.levine@jpmorgan.com

REYN, CHD & PG improved more modestly vs. 4W prior in comparison. J.P. Morgan Securities LLC

Conversely, NWL decelerated the most in YOY $ takeaway trends vs. 4W prior

followed by CL, while ENR saw more moderate deceleration and KVUE

decelerated modestly vs. 4W prior.

This note complements the tracked channel note published earlier today using data

from NielsenIQ ending May 2nd. We highlight that the databases are different (main

difference is Costco and some specialty retailers like Ulta which is captured in

Circana and not NielsenIQ) and Circana contains more comprehensive data for

Amazon as well as a slightly different date range.

HPC ex-Beauty Pure-Plays in Rank Order of Takeaway Performance (see

Beauty below):

• HNST (UW) $ Takeaway Was Up +6.9% YOY (+18.9% volume and -

10.1% pricing), which accelerated +64 bps sequentially and +347 bps vs. 4W

prior. Takeaway on a 2-year CAGR basis was up +7.0%, which was flat