Tupperware Brands Corporation today announced first quarter 2019 net sales of $487.3 million.
Net sales were down 10 percent (2% local currency). Emerging markets, accounting for 69 percent of sales, were down 11 percent (down 3% local currency). The emerging market operating units with the most significant local currency sales growth in the first quarter were Argentina, China, CIS and Poland, more than offset by significant decreases in Brazil, Fuller Mexico, Malaysia/Singapore, India, Indonesia and Turkey. Established market sales decreased 7% (2% local currency). The local currency sales decreases were most significant in the United States and Canada, partially offset by significant business-to-business sales in France and Switzerland.
- Europe: Segment sales were down 4 percent (up 8% local currency)
- Asia Pacific: Segment sales were down 9 percent (5% local currency)
- North America: Segment sales were down 11 percent (10% local currency)
- South America: Segment sales were down 20 percent (3% local currency)
“We delivered local currency sales and earnings per share within our expectations in the first quarter,” said Tricia Stitzel, president and chief executive officer. “Our results included sequential sales and sales force trend improvements in several of our units including France, Germany, Indonesia and Italy, and a five-percentage point sequential sales improvement overall.”
To read the full Tupperware Q1 2019 report, click here.