Consumer Credit Research: The Consumer Counselor: Nielsen Update for the Four-Week Period Ended 06/13/26

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Consumer Credit Research: The Consumer Counselor: Nielsen Update for the Four-Week Period Ended 06/13/26

Update

June 25, 2026 08:39 PM GMT

Morgan Stanley & Co. LLCMConsumer Credit Research | North America Jenna L Giannelli

Credit analyst

The Consumer Counselor: Jenna.Giannelli@morganstanley.comRoopi Bhangu +1 212 761-4340

Credit Analyst

Roopi.Bhangu@morganstanley.com +1 212 761-1912

Nielsen Update for the Four-

Week Period Ended 06/13/26

Nielsen-tracked channel sales were +0.4% YoY in the 4-week

period ended 06/13/26, slightly lower vs. last month's pace of

+0.7% YoY, with broader tracked channel sales in line with our

HY Consumer universe on average.

Scanner data sales growth decelerated slightly vs. last month, +0.4% YoY in the

period, and trends were mostly negative among our cohort. Only three names in

our coverage saw positive YoY unit volume growth (CENT, SMG, EPC), while the

rest were negative ( Exhibit 3 ). Pricing trends were higher, with EPC, COTY, PBH,

ENR, and SPB experiencing higher pricing in the month ( Exhibit 4 ). Top-performing

categories by dollar volume growth ( Exhibit 2 ) included fragrances, sun care, and

automotive additives, while food & bev containers, automotive cleaner & supply, and

batteries & accessories were among the weakest performing. Half of our names

surpassed the tracked channel total (CENT, EPC, SPB, SMG) ( Exhibit 1 ), and five

names (COTY, SMG, SPB, EPC, CENT) improved sequentially, while the rest were

stable or deteriorated sequentially.

Relative to the prior month, dollar volume trends ( Exhibit 1 ) reflected:

• Sequential deterioration: NWL (now negative)

• Sequential improvement: EPC, SPB, SMG (now positive), COTY (still

negative), CENT (still positive)

• Steady/unchanged trend: ENR, PBH (still negative)