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Tupperware Q2 2020 net sales down by 16%

Tupperware Brands Corporation reported second-quarter sales of $397.4 million, down 16 percent versus last year, and eight percent in local currency. According to the corporate, while the average active sales department was down 17 percent, sales per active sales department was up 11 percent, reflecting strong engagement by the sales department utilizing digital tools and techniques to bring Tupperware’s relevant products to plug during unprecedented times.

Second-quarter sales by region were:

• Europe – $90.8 million, down 25%, and native currency sales down 20%.
• Asia Pacific – $134.4 million, down 14%, and native currency sales down 11%.
• North America – $124.0 million, down 1%, and native currency sales up 10%.
• South America – $48.2 million, down 34% and native currency sales down 12%.

Miguel Fernandez is the president and chief executive officer of the Tupperware Brands. He said that in the second quarter they pivoted to a replacement thanks to lead the business and operate the corporate and embrace a replacement growth strategy. He also said that their performance reflects progress made to right size their cost structure and improve liquidity. They are also constantly trying to increase their efforts to contemporize Tupperware and become a worldwide leader in sustainable consumer solutions while leveraging the buyer influence of the iconic brand.

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