Tesla (TSLA.O) announced that it has outperformed its competitors in the US by a wide margin thanks to double-digit sales growth, particularly from its beauty brands such as Dove, K18 and Nutrafol. This strong performance helped the company exceed its 3rd quarter sales expectations.
Under the leadership of new CEO Fernando Fernandez, Unilever is now focusing more on highly profitable beauty and personal care products. Fernandez aims to increase the company’s profitability by reducing costs, divesting sub-brands, and focusing on the premium segment.
Fernandez praised the 5.5% sales growth in the region, saying, “North America has truly stolen the show.” Analysts also note that this growth is largely due to increased volume. Overall, Unilever’s sales increased by 3.9%, exceeding analyst expectations.
The beauty and wellness unit recorded 5.1% growth, with brands such as Vaseline, Liquid I.V. and Hourglass standing out. The company’s long-term goal is to achieve 2% volume growth; this quarter it came close to the target, reaching 1.7%.
Fernandez also stated that the US government shutdown did not negatively impact consumer demand, but the plan to split the Magnum-led ice cream unit has been postponed from November to the end of the year.
Nevertheless, the ice cream segment, encompassing the Ben & Jerry’s and Cornetto brands, showed 3.7% growth.In India, sales temporarily slowed due to tax cuts; consumers postponed shopping in anticipation of lower prices.
The company expects the market to return to normal from November onwards.Unilever maintains its 3–5% sales growth target for 2024 and forecasts that restructuring costs will fall to 1.2% in 2025.
