Tupperware Brands announced its commitment to remain in the Orlando area. The company closed on a long-term sale-leaseback agreement with O’Connor Capital Partners for approximately 41 acres of land on which Tupperware Brands’ headquarters is located. The transaction transferred approximately 108 acres and is the first of two transactions to finalize Tupperware’s sale of the company’s remaining land…

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Tupperware Brands today announced the issuance of a U.S. patent for PONDS, a device designed to grow vegetables in low earth orbit with minimal maintenance. “We are proud to have received a patent for the unique and novel design of PONDS,” said Miguel Fernandez, chief executive officer of Tupperware Brands. “With this patent in hand and…

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Chris O'Leary

Tupperware Brands Corporation announced the expiration and final tender results of its previously announced offer of outstanding 4.750% Senior Notes. The “First Offer” was to purchase for cash up to $175 million aggregate principal amount of its outstanding 4.750% Senior Notes due 2021 (the “Notes”) that were validly tendered (and not validly withdrawn) at or prior to…

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Tupperware Q3

Tupperware Brands Corporation reported sales for the first quarter ended March 28, 2020, were $375.9 million, down 23 percent versus last year. “We continue to take swift actions to strengthen our business and navigate the uncertainties of COVID-19, including accelerating our planned cost savings from $50 million to $75 million in 2020,” said Miguel Fernandez, president and chief executive officer…

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Tupperware Q2

Tupperware Brands Corporation announced its business continuity plans in response to the COVID-19 pandemic, which are aimed to preserve the long-term financial health of the business. “During these uncertain times, the health and safety of our employees and sales force remains our top priority,” said Miguel Fernandez, president and CEO of Tupperware Brands. “Like many companies…

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Chris O'Leary

Tupperware Brands Corporation  announced an organization redesign aimed at driving long-term sales and profitability growth, along with the appointments of three new executives to the leadership team. Following months of organization design work with a leading management consulting firm, the company’s recently appointed President and Chief Executive Officer Miguel Fernandez has taken the first steps to…

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Tupperware Brands Corporation (NYSE: TUP) today announced that its Board of Directors has appointed Miguel Fernandez as president and chief executive officer, effective April 6, 2020. The Board also has appointed Richard (“Rich”) Goudis as executive vice chairman, effective March 12, 2020. Goudis is the former chief executive officer of Herbalife Nutrition Ltd. “The Board is…

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Direct Selling News has been talking a lot lately about how our channel needs to evolve and come in line with the current consumer landscape. In a recent article posted, the Wall Street Journal shone a light on Tupperware’s struggle to attract customers as well as its Feb. 24 announcement that its annual report would…

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Chris O'Leary

Tupperware Brands Corporation shares are down over 20 percent in pre-market trading today following the launch of an investigation into the company’s financial accounting by Shareholder Rights Law Firm Johnson Fistel, LLP. Johnson Fistel is investigating potential violations of the federal securities laws by Tupperware and its officers and directors following yesterday’s announcement by Tupperware…

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WeWork Debacle Changes the Gig Economy Game; Public Direct Sellers Continue to Slow.   WEWORK IMPLOSION SIGNALS THE END TO BLANK CHECK FINANCING FOR GIG ECONOMY For the past several years, growth in the U.S. Direct Selling market has appeared to plateau after decades of posting mostly consistent, mid-single-digit kind of growth rates, even during…

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