Dominant share positions in daily-use, consumable categories provide pricing power and retailer shelf-space leverage that competitors cannot easily replicate, insulating margins over time. If share erodes meaningfully across multiple categories, the pricing umbrella weakens.
the thesis · admitted · the reason above is the thesis, not printed twice
no findingread · nothing bore on it
It held on this filing. No finding was written because nothing in it bore on the reason — the sentences it was read against are below.
the evidence · every sentence checkedthree sentences · whole, uncut
the claims it rests on · in our words, not the filing’s