Packaged Food Trends:Monthly Scanner Data Update

CPG Industry & Private Label Trends

    The latest Nielsen market share data (ending 12/31/16) shows total packagedfood sales for the latest 4-week period were flat with units -0.2% and pricing+0.2%. This is a modest improvement vs. the prior 12 week average (sales-0.4%, units -0.9%). Food outperformed the broader CPG industry, which hadreported sales -1.2% including units -1.0% and pricing -0.2%. Over the sameperiod, total private label food sales were +0.2 %, with units +1.9% and pricing-1.7%. Thus, private label appeared to gain dollar and unit share while the pricegap widened vs. branded.

    Company Trends

    We note CPB, HSY, HRL, and KHC showed meaningful improvement vs. recenttrends while SJM, LNCE, and WWAV had sequentially weaker data. Thefollowing data notes company-specific sales trends for the latest 4-weekperiod as well as comparison vs. the trailing 52 week average.