Summary
Bank of America’s analysis of monthly Nielsen Food scanner data for the European Union covering the four weeks ending March 22, 2026, highlights divergent trends within food manufacturers. Swiss chocolatier Lindt registered a substantial jump in reported sales, while Danone showed a slight decline in the same interval. Broader category metrics point to positive value growth month-over-month, even as specific segments such as baby milk saw notable contractions for major brands and strength for private label offerings.
Company-level detail
Lindt reported a 36.1% increase in sales for the four-week period ending March 22, 2026. Bank of America’s breakdown attributes that gain to a 22.3% improvement in price and product mix alongside a 13.7% rise in volume. The bank notes that the strong showing was supported by favorable year-over-year comparatives created when Easter occurred earlier in the calendar this year.
By contrast, Danone recorded a 1.4% decline in sales across the same four-week window. The entire decrease in Danone’s sales in this snapshot is attributed to a 1.4% fall in volume, with no separate price or mix contribution cited in the data provided.
Category and segment trends
Across the food categories tracked by the Nielsen scanner, average value growth reached 6% for the four weeks ending March 22 compared with the period ending February 22. Bank of America characterizes this as a month-over-month acceleration in value of 1.3%. Over the same comparison, reported volume rose 1.3% while prices were effectively flat.
The baby milk segment showed significant stress for leading brands. Nestle’s sales in the category declined 35.6% and Danone’s sales fell 17.9% during the measured four-week span. In that segment, private label brands expanded their presence, posting a 9.2% increase in sales.
Implications
The data reflect a mixed picture in European food retailing for the month-long window ending March 22, 2026: robust, holiday-affected growth for certain seasonal and confectionery players; modest volume-driven weakness for Danone overall; and large percentage declines in baby milk for the major brand owners alongside gains for private label competitors. These outcomes underscore how calendar timing and segment dynamics can materially affect short-window scanner results.