Financial Report In this section:Tupperware's Global Portfolio Achieves Growth   Tupperware's Global Tupperware Brands (TUP—NYSE) reported its first-quarter 2007 results:
“We are pleased we achieved mid-single-digit local-currency sales growth in both beauty segments along with a 35 percent increase in our key Tupperware emerging markets,” said Rick Goings, Chairman and CEO. “Together with the key emerging markets, significant increases in our established Tupperware markets in the United States, Japan, Australia and South Africa from enhanced salesforce leadership programs, products and selling situations outweighed continued weak performance in Germany.” First-Quarter Highlights In conjunction with the appointment of Simon Hemus as President and COO as of Jan. 1, 2007, which resulted in a realignment of the reporting segments, the company now has a Beauty North America segment composed of Fuller Mexico and BeautiControl North America. All other units previously reported in the International Beauty segment are now reported as a segment called Beauty Other. Previously reported information has been reclassified to reflect this change. Tupperware Brand Segments Both the Asia Pacific and Tupperware North America segments had sales increases over last year as reported and in local currency. There were particularly strong increases in Japan, Malaysia and the United States. In addition, the emerging markets of China, India and Indonesia were up 21 percent in local currency. Sales in Europe were buoyed by continued growth in South Africa and the key emerging markets in this segment, which were up 44 percent in local currency. This sales growth was offset by Germany where the average active salesforce continued to be below last year. Sales in Europe, excluding Germany, were up 10 percent in local currency. Profit increases in Asia Pacific and North America offset a European decline, primarily from Germany, for a total increase in local currency profit of 5 percent by the Tupperware segments. Beauty Segments Sales were up in both beauty segments primarily due to Fuller Mexico and Central and South America. Profit in the beauty segments was down as a result of higher manufacturing, commission and salesforce training costs in BeautiControl North America and the timing of expenses in Fuller Mexico. “Continued progress this quarter, evidenced by achieving the high end of our sales expectations, indicates that we have entered a new era whereby our having a global portfolio of direct selling companies gives us more growth opportunities as well as makes our business more predictable,” Goings said. Tupperware Brands Corporation is a global direct seller of premium, innovative products across multiple brands and categories through an independent sales force of 1.9 million. Jump to: |