HPC Scanner: PG steady, but CL weakens. CHD solid, CLX stabilizing. ELF capped

Research evidence excerpt

HPC Scanner: PG steady, but CL weakens. CHD solid, CLX stabilizing. ELF capped

Consumer | Global Household & Personal Care

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June 09, 2026

Robert Ottenstein HPC Scanner: PG steady, but CL weakens.

212-653-9020

Robert.Ottenstein@evercoreisi.com CHD solid, CLX stabilizing. ELF capped

Javier Escalante

212-446-9477

Javier.Escalante@evercoreisi.com Today's data runs through May 31, covering two-thirds of 2Q

JD Todd and fully reflecting changes in competitiveness following

212-812-2912 retailers’ shelf resets. Bigger picture: Consumers directed tax

JD.Todd@evercoreisi.com refunds into general merchandize, while the lower-income

brackets pulled back spending on HPC consumables:

▪ Beauty +5% in 2Q, up 4% in May. L'Oréal’s

outperformance of +200 bps at +7.0%, reflecting haircare

premiumization and trade-up to derm skincare, consistent

with Walmart’s commentary. COTY improved on fragrances

to (1)%, but CoverGirl still down (5)%. ELF last four weeks

softened to 4%, with Naturium driving all growth, as elf,

inclusive of skincare, weakened to (3)%.

▪ HPC continues weak, particularly tissue, detergents,

and diapers. Costco activations are one swing factor:

Clorox’s Scoop Away litter spiked, whereas Procter's

Pampers reentry leads to stabilization. PG firmed to +1%,

as Charmin normalizes and Tide improves to 2%, outpacing

detergents by one point (pages 6 and 12.) CL flat still driven

by Household and toothbrushes, as toothpaste weakens;

Hill’s up mid-teens 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 ceding diaper share,

while Chinese imports decelerated off a very high base.

KVUE weakened to (2)% on Neutrogena, while Tylenol