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The shutdown is entering its fourth week amid a deadlock over funding, raising concerns among businesses about potential disruptions to consumer spending, travel and financial activities such as initial public offerings. Sign up here. "We see a clear bifurcation in the market there between households that own stocks and households that don't own stocks ... I believe this explains probably the resilience of our premium portfolio in the U.S.," Fernando Fernandez told analysts in a post-earnings conference call. TAPPING INTO CONSUMER TRENDS The group's underlying sales in North America grew 5.5% in the third quarter, marking a fifth consecutive quarter of volume-led growth, as the owner of Dove and TRESemme haircare products has invested heavily in higher-margin premium beauty and personal care products in the local market, attracting more affluent consumers. Fernandez told reporters that Unilever's success in North America was down to great execution, tapping into clear consumer trends, such as wellbeing, and having a portfolio well-suited to Gen Z and millennial consumers. He said Unilever was convinced that focusing on premium goods was the right strategy and noted that the company's three fastest-growing customers - Amazon, Walmart and Dollar General - showed that Unilever can still reach less wealthy consumers. "The fact that we are growing in Walmart and Dollar General reflects also that our portfolio is well-suited for more cash-strapped and value-conscious consumers," Fernandez said. The shutdown, however, did force Unilever earlier this week to push back on the timing of its ice cream business spin-off. Reporting by Yadarisa Shabong in Bengaluru and Alexander Marrow in London. Editing by Susan Fenton and Mark Potter Our Standards: The Thomson Reuters Trust Principles., opens new tab Chief companies correspondent for Russia, Alexander covers Russia’s economy, markets and the country's financial, retail and technology sectors, with a particular focus on the Western corporate exodus from Russia and the domestic players eyeing opportunities as the dust settles. Before joining Reuters, Alexander worked on Sky Sports News' coverage of the 2016 Olympics in Brazil and the 2018 World Cup in Russia.
