The Way To Connect With Direct Selling Industry

The Way To Connect With Direct Selling Industry

Tupperware Earnings Beat Analyst Expectations In The Second Quarter, And Sales Increase

Tupperware Brands Corp. reported lower second-quarter earnings, although they were still higher than analyst expectations.

Net profits for the kitchen and home products firm was $35.6 million, down from $63.8 million a year ago. Earnings per share fell to 67 cents from $1.30 before. The drop in net income and GAAP EPS was attributed to prior-year profits on debt extinguishment and property sales.

The adjusted EPS came in at 95 cents, surpassing the FactSet forecast of 57 cents.

Net sales were $464.7 million, up from $397.4 million and more than the $460.2 million forecast by FactSet.

“Our early investments and various attempts to achieve long-term sustainable development in our core direct selling business resulted in double-digit revenue growth,” stated Chief Executive Miguel Fernandez. “To prepare for future company development into new channels, we’re expanding our investments in people across operations, digital, finance, and market leadership.”

The greatest contributor was revenues in North America, which increased by 26% year over year to $155.8 million. Sales in the Asia Pacific decreased 7% to $124.6 million, while sales in Europe increased by 26% to $114.4 million.

Sales in the South American business increased by 45 percent to $69.9 million.

Share:

Share on facebook
Share on google
Share on twitter
Share on linkedin
Related Company

Recommended People

Related People

Related News

Register to MLMEYE
    •  
      Strength indicator
  •  
  •  

    Forgot Password

Share on facebook
Share on whatsapp
Share on google
Share on linkedin
Share on email
Share on twitter
Share on pinterest

You must be logged in to see people lisitng. You may also register for an account.

Edit Your Profile
Please login to update your profile!