Tupperware Brands Corporation (NYSE: TUP) announced second quarter 2019 operating results.
Second quarter 2019 sales were $475.3 million, down 11 percent, and local currency sales were down 7 percent.
“Overall, the business fell short of our expectations in some markets as geopolitical concerns and lower consumer spending headwinds in two of our key markets resulted in a miss of our local currency sales expectations as we worked to adjust our product and promotion mix accordingly,” said Tricia Stitzel, chairman and chief executive officer of Tupperware Brands. “Despite these challenges, we met the low end of our adjusted earnings per share guidance for the quarter after considering two cents worse foreign currency since we provided guidance.”
Sales were down in each region:
- Europe – Sales $121.5 million, down 8% and local currency sales down 2%
- Asia Pacific – Sales $155.5 million, down 14% and local currency sales down 10%
- North America – Sales $124.7 million, down 9% and local currency sales down 9%
- South America – Sales $73.6 million, down 14% and local currency sales down 3%
To read the full Tupperware Q2 report, click here.
